Highlighted the way, major oil companies are thinking:
...is expected to seek the entire 40% stake of Namibia's Mopane oil and gas exploration block put up for sale by Portugal's Galp, a director at the state-run oil firm said on Monday.To operate the oil field, Petrobras would need the full 40% stake, said Exploration and Production Director Sylvia dos Anjos on the sidelines of the ROG.e oil and gas event in Rio de Janeiro. "Operating with less than 40% is very bad... (Galp) offered the operation, and no one operates with less than 40%," Anjos told journalists.In July, the executive told Reuters that Petrobras had made a non-binding offer in the bidding process opened by the Portuguese company that would make it the operator of the field.But so far there has been "no progress" in the process, she said on Monday."We know Brazil very well, we also know Africa very well. So, naturally, if we go somewhere abroad, Africa is a good place," she said.The Reuters Power Up newsletter provides everything you need to know about the global energy industry. Sign up here.Reporting by Marta Nogueira in Rio de Janeiro; Writing by Fabio TeixeiraOur Standards: The Thomson Reuters Trust Principles.
What could that mean for PCL? Well, it could mean that a new operating major oil company is interested to buy
about 25 % of Saturn from Woodside PLUS 20 % of Saturn from PCL PLUS (I think if memory serves) 7% from Sintana
Thats's how the operating major could get around 50% and dominate the Saturn block.
Alternatively, a state oil company could buy the Sintana respectively PCL share and become a passive but prudent partner with financial firepower for the major oil company.
PCL Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held
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