Regarding decreasing liftings, the graph in OEL's report makes interesting reading. The daily oil production has been declining at a steady rate since early 2011. I guess this is part of the natural attrition of a field and why the JV is desperate to more than double it with the upgrades etc. makes a lot of sense to me now if they want to keep earning more than they are spending! Would be interested to know what the conditions they need to meet for the cash drawdown are. One must be this independent audit.
qrtly, page-15
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