Posted by r°Moi > 2015-02-11 08:29 | Report Abuse

RI cancelled..... no money


What is going to happen to that old junk bought for conversion into a FPSO for that FPSO contract??


To pay compensation to cancel the FPSO contract will cost a bomb....

To scrap that old junk bought for conversion into a FPSO for that FPSO contract too will cost a bomb....

Posted by r°Moi > 2015-02-11 08:38 | Report Abuse

Hopefully, oil prices won't stay low too long….. and while waiting there is no news like this…..



Due to continued low oil prices at below USD 50, two of AAAAAAA's FPSOs which operate in offshore Nigeria have been lying idle as their Nigerian majors have decided to suspense operations till further notice as their production cost was high in the region of USD 78.57/bbl..

The FPSOs involve are AAAAAAA Pa and AAAAAA Pe



This is a caution not an alarm…..


If oil prices stay below USD 50 long time… there will be considerable risk in investing in AAAAAAA take note

At USD 78.57/bbl...... Nigeria oil majors’ cost is way above the shale oil’s