In Africa many oil companies apply the strategy to invest only offshore, hundreds of miles away from the coast and in deep water to reduce this political risks. Yes, black empowerment follows the idea and strategy to nationalize, to get a bigger slice of the oil and gas money. But if the African politicans squeeze this deep water offshore operators too much, the oil companies will sail away with their FPSOs and nobody in Africa will earn a single $ with the closed in subsea well heads in 1.000 m or deeper water depths because Africa today does not have the resources nor the know how to operate these offshore fields. And second nations like the USA, France, GB are motivated to protect the hughe investments (which are and will be needed for Namibia offshore) done by their major oil companies.
PCL Price at posting:
2.2¢ Sentiment: Hold Disclosure: Held
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