'2126' pid='67350' datel Wrote:It seems like some SHU members feel that the IOC executives, BOD, and staff are sitting around their offices burning up their cash. This view undoubtedly comes from the frustration of waiting for final decisions to be made on A7 and completion of testing of A6. However, a $1.5 billion corporation always has a backlog of projects and work to complete during relative down-times. Back in December, I noted in another post that there were a number of IOC tasks that would require work and,consequently, expenditures during 2016. These include:
- Expenses for development of Basis of Design for Papua LNG in coordination with Total
- Expenses for development of early Front End Engineering and Design for Papua LNG in coordination with Total
- Review and study of over 1000 km of seismic lines obtained over last 2 years
- Review and study of aerial gravity gradiometry obtained over 80% of IOC acreage
- Review and study of well logs, wirelines, etc. from all E/A wells
- Integration of all well data with seismic/gradiometry for identification of later drill sites
- Integration of all data into IOC regional geological model
- Identification and high-grading of additional non-PRL 15 drill sites
- Review and development of additional sell-down plans for non-PRL 15 assets
- Possible fielding of offers for both sell-downs and sale of entire company
- Preparing all IOC data for certification appraisals
While we wait and post our thoughts on SHU, I feel confident that the professionals that work at IOC are checking items off this list in due course.
Thanks, 2126 for the kind of rational, useful, and not derogatory comment (to anyone at the Company or elsewhere) that seems to be rare these days, with other major exceptions being those from petrengr, of course.