Peter I am aware of the possible, perhaps even probable, presence of a trap which wasn’t detected when the field was developed. My comment was to do with the opinion that the field would be economic even if the oil trap is not proven to hold the predicted reserves. In my opinion it won’t be developed if new reserves aren’t proven as a new wellhead platform and an FPSO capable of handling over 30,000 bopd of water aren’t cheap, even if the FPSO is leased. One of the reasons it was decommissioned in the past was that the field was producing much more water than oil, and the FPSO was operating at its produced water processing limits. We need more oil and less water for this to fly, and that’s exactly what CVN has interpreted the field to hold, based on their more advanced survey and interpretation techniques. They’re confident and I’m hoping they’re right because it was a 50,000 bopd field for a while in the past.
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