ncb

On the latest and previous NCB fleet status report, the NCB was under contract to Shell until Jan 2015. Initially thought this must have been a typo, but nope, Shell have this rig until 2015 for the development of their Prelude gas field. Now, this field is so big, it has justified the investment of $12 billion (that's right, billion) into the Floating Liquefied Natural Gas project, a world first, taking on all the risks that go with being a technology leader. Construction commenced in October. Do a google, this thing is HUGE. How big a gas field would you need to justify this sort of investment? About 2-3 TCF. Palta is estimated at 13.5TCF (including the bit on 'our' permit). Are Shell thinking of a better use for their $12B behemoth? IMO if the NCB hits paydirt we should take first offer (be it Shell, Strike or Cott) and run, lest a second offer not materialise.