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the uk government and press are now setting pieces in place for indy ref 2,,, they are now trying to portray the oil industry as a burden to the tax payer with the future decommissioning,,, from my understanding this is the responsibility of each oil company and is a legal requirement,, the uk government have tax relief for decommissioning but they are not paying for it as portrayed by the MSM 

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On 1/10/2017 at 6:18 PM, hampden_loon2878 said:

the uk government and press are now setting pieces in place for indy ref 2,,, they are now trying to portray the oil industry as a burden to the tax payer with the future decommissioning,,, from my understanding this is the responsibility of each oil company and is a legal requirement,, the uk government have tax relief for decommissioning but they are not paying for it as portrayed by the MSM 

Basically, the block license holder (operating company) has full responsibility for plug, abandonment and decommissioning.   It get's a bit more complicated in certain scenarios and i suppose if a operator went to the wall, and the government couldn't pin involvement in the block on any co-venturer, stakeholder or profiteer, they may have to fork out something themselves to decommission - but highly unlikely.

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8 minutes ago, jailender said:

Let's face it though, most of the public care more about the price of petrol, than the effect of the barrel price on the economic situation.

Aye, but that was the same, this time last year, when the price was about $28. Yet the media tried to convince folk that a low oil price is really, really bad.

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37 minutes ago, jailender said:

Let's face it though, most of the public care more about the price of petrol, than the effect of the barrel price on the economic situation.

Well the reality is of course that a lower oil price is marginally better for the Scottish economy as the reduction in overall fuel costs drives lower costs and prices across the economy.

But that's something which tends to be overlooked when discussing the impact of the oil price on Scotland's economy.

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  • 1 month later...
21 minutes ago, hampden_loon2878 said:

Sorry for the paper i have shared from but this is the geological set up that hurricane energy discovered a massive field,,, expect more exploration down the west coast

https://www.google.co.uk/amp/s/www.express.co.uk/news/uk/769847/rockall-oil-gas-reserves-scotland/amp

Heard it on the news earlier this week...

http://www.scotsman.com/business/companies/energy/oil-reserves-off-scottish-coast-may-have-been-missed-1-4371112

 

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6 hours ago, FuNsTeR said:

apparently our entire west coast margin is worth trillions in untapped oil and gas reserves

 

https://www.oilandgaspeople.com/news/1039/scottish-west-coast-untapped-oil-and-gas-reserves-worth-trillions/

That's why talor-wood group still have the oil rig construction site at hunterston. It's been mothballed but easy enough to make ready to build rigs once the west coast reserves are opened up

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9 hours ago, hunchy said:

That's why talor-wood group still have the oil rig construction site at hunterston. It's been mothballed but easy enough to make ready to build rigs once the west coast reserves are opened up

No need. There's a massive oversupply issue with rigs already. 

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9 hours ago, deecie said:

No need. There's a massive oversupply issue with rigs already. 

over supply just now - but are many of the 30-40 year old rigs not now getting broken up rather than pay the costs and maintenance, certification of cold stacking ?  I always read about many of the drillers, scrapping lot of their rigs which were piece of crap anyway, but they still got good money for few years back.

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13 hours ago, deecie said:

No need. There's a massive oversupply issue with rigs already. 

They could still use the hole for repair and reciting the rigs.

 

Good point buffer about the turbines could even be used as a yard for tidal turbines

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9 hours ago, hunchy said:

They could still use the hole for repair and reciting the rigs.

 

Good point buffer about the turbines could even be used as a yard for tidal turbines

Unlikely. It won't be able to match prices from the Far East.

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  • 1 month later...

Thats the MSM on the bandwagon regarging hurricane energy and their find at the lancaster and halifax fields,, the field itself is not so much the game changer its the formation that it is found in, i cant express this enough,,, i would love for the SG to champion and put forward a plan for a national oil company post independence,, this needs to be touted as many people would buy into this 

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22 minutes ago, hampden_loon2878 said:

Thats the MSM on the bandwagon regarging hurricane energy and their find at the lancaster and halifax fields,, the field itself is not so much the game changer its the formation that it is found in, i cant express this enough,,, i would love for the SG to champion and put forward a plan for a national oil company post independence,, this needs to be touted as many people would buy into this 

A fan of old planes running that company?

 

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1 hour ago, hampden_loon2878 said:

Thats the MSM on the bandwagon regarging hurricane energy and their find at the lancaster and halifax fields,, the field itself is not so much the game changer its the formation that it is found in, i cant express this enough,,, i would love for the SG to champion and put forward a plan for a national oil company post independence,, this needs to be touted as many people would buy into this 

I saw an article in the Scotsman and the pro union people already on there saying its nonsense - look at the oil price - its worthless, but if they had read the original article, in the FT I think it was, they would understand that Hurricane have invested at a very low price - so they were saying anything over $40 and they are making money - above $50 and they make a lot of money.  so this becomes much more viable. especially at over £1bn barrels.

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2 hours ago, ShedTA said:

I saw an article in the Scotsman and the pro union people already on there saying its nonsense - look at the oil price - its worthless, but if they had read the original article, in the FT I think it was, they would understand that Hurricane have invested at a very low price - so they were saying anything over $40 and they are making money - above $50 and they make a lot of money.  so this becomes much more viable. especially at over £1bn barrels.

This field will be massively profitable remember oul companies play down their reserves also, from all reports the oil will be thin and easily recoverable,, that develoment would make money at $10 the barrel,, i was recently on the north alwyn where they have got lifting costs down to $11 the barrel but with them(total)recently selling st.fergus for 900 million they were getting charged an additional $11 for export,, so 22 dolllars a barrel for a 30 year old platform to break even and they are not a big producer,,,i read the comments today in the acotsman and there was a certain lady who didn't know her head from her arse, saying the reserves were worthless,, on a whole the northsea is profitable just above th $ 20 mark,, it will be up around $60 by the summer and that is a price which makes the northsea very attractive again...

 

as i mentioned above its about time the SG produced a big and bold vision,,even if a bit unrealistic in the short term they should put forward a national oil company for the interests of Scotland but then again its a catch 22 as we need to put forward a scotland that is self sufficient without oil   

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2 hours ago, ShedTA said:

I saw an article in the Scotsman and the pro union people already on there saying its nonsense - look at the oil price - its worthless, but if they had read the original article, in the FT I think it was, they would understand that Hurricane have invested at a very low price - so they were saying anything over $40 and they are making money - above $50 and they make a lot of money.  so this becomes much more viable. especially at over £1bn barrels.

This field will be massively profitable remember oul companies play down their reserves also, from all reports the oil will be thin and easily recoverable,, that develoment would make money at $10 the barrel,, i was recently on the north alwyn where they have got lifting costs down to $11 the barrel but with them(total)recently selling st.fergus for 900 million they were getting charged an additional $11 for export,, so 22 dolllars a barrel for a 30 year old platform to break even and they are not a big producer,,,i read the comments today in the acotsman and there was a certain lady who didn't know her head from her arse, saying the reserves were worthless,, on a whole the northsea is profitable just above th $ 20 mark,, it will be up around $60 by the summer and that is a price which makes the northsea very attractive again...

 

as i mentioned above its about time the SG produced a big and bold vision,,even if a bit unrealistic in the short term they should put forward a national oil company for the interests of Scotland but then again its a catch 22 as we need to put forward a scotland that is self sufficient without oil   

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