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> Brunei economy crumbling? Oil exports down 25.7%!, currency peg with Singapore traps Brunei

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feynman
post May 2 2014, 01:02 PM

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QUOTE(rivost @ May 2 2014, 12:17 PM)
they can't. you think it is petronas?

brunei's oil is controlled by shell. shell is a public company, it is responsible to shareholders in terms of profitability. it won't play such game.
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It's a JV. The government owns half of the company.


feynman
post May 2 2014, 01:08 PM

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Brunei has enough oil lah................it has not even gone deep sea.
Don't know why you people talk kok.
feynman
post May 2 2014, 01:09 PM

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QUOTE(leonhart88 @ May 2 2014, 01:08 PM)
brunei only 700k population la..why malaysian not migrate there become rich? they say brunei=Norway
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400k
feynman
post May 2 2014, 01:19 PM

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QUOTE(rivost @ May 2 2014, 01:11 PM)
oil won't finish, problem is going deeper and deeper the cost would be higher and higher. minus payments to gov't cronies minus tributes to sultan minus this and that not really cost-effective to invest in such operation.
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Then you are wrong. The time is not right yet but it will go deep because margins are high.

Heard of Gumusut kakap?
feynman
post May 2 2014, 01:29 PM

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QUOTE(rivost @ May 2 2014, 01:25 PM)
80% of its fields are already in deepwater, so how deep to go again?

next time oil hit $150 the shale revolution will be at full force, since the technology is already available.
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adui....Ampa and Champion are in shallow waters lah.....These 2 fields have much hydrocarbons. Bolom talk about Magpie and Gannet yet.

Seria onshore is still producing despite being the oldest field. It has produced more than 1B barrel till date.

If oil does reach $150 a barrel, Upstream companies have all the more incentive to go deep.

This post has been edited by feynman: May 2 2014, 01:31 PM
feynman
post May 2 2014, 01:35 PM

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QUOTE(leonhart88 @ May 2 2014, 01:33 PM)
10 yrs ago i studied geography 600k, where 200k?
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Obviously you did not study hard enough.....go study again.
feynman
post May 2 2014, 01:39 PM

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QUOTE(rivost @ May 2 2014, 01:35 PM)
they are already extracting those for decades. you think they are still untapped?

also, aren't you forgetting something?

user posted image
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Adui....first you got shallow waters wrong......now you get where the delineation of international borders wrong.

Those two fields are still producing and they still have recoverable reserves. Which comes back to the point where they have not gone deep sea. Production is still in the shallow waters.

Brunei has deep sea territory. Deep water starts at 150 meters and more. Those areas are not disputed territories. Heard of block L and M ?

This post has been edited by feynman: May 2 2014, 01:41 PM
feynman
post May 2 2014, 02:03 PM

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QUOTE(rivost @ May 2 2014, 01:53 PM)
didn't quite bother to measure the meters when looking at the map.

you referring to this?

user posted image

let's hope they found a good reserve there laugh.gif but even so petronas will share some profit ratio as agreed in 2009.

in addition, some of their problem is internal. brunei increasingly demand a lot of terms from shell, such as local employment quota, even though the locals are rather inefficient. they have also setup a national oil company (http://www.pb.com.bn/) and start making things harder and harder for shell. so don't expect shell to make any further big investment. it may drag on for even decades.
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L and M are not developed yet.

LBD is certainly a core concern but Shell still has enough motivation to stick around. The margins are good.

Without revealing too much, PB is nothing lah.

QUOTE(Toyoi @ May 2 2014, 01:54 PM)
he he he...no wonder dr mamak last time so damn angry pak lah surrender some oil blocks to brunei...looks like that's the block issit??  biggrin.gif
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yup Those are the two blocks.
feynman
post May 2 2014, 02:51 PM

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QUOTE(rivost @ May 2 2014, 02:08 PM)
pb is nothing? they are awarded the block despite not having the technical expertise. either dependent on petronas or project stuck.

that is the thing, shell has good motivation to stay but no longer so confident or determine to make big investment. this can also partly be attributed to brunei's political issue. therefore you have brunei's negative oil and gas stats now. the sultan will not change his stance i can tell you.
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Are you in Brunei?

This is where you have absolutely no idea how things are in Brunei. But it really doesn't matter, because even if you knew more, it won't change a thing.

Due to confidentiality requirements. I can't divulge more than what I have shared.
feynman
post May 2 2014, 02:55 PM

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QUOTE(Hamsapguy @ May 2 2014, 02:53 PM)
baik tak cakap anything at all, waste time reading this only
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Tak suka jangan baca lah. I'm paid enough to not engage in unsubstantiated talks.

This post has been edited by feynman: May 2 2014, 02:55 PM

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