exploration and production
Bank Oil Swap Gives Goudron Go Ahead to Update Field Development Plan
Wednesday, 18th March 2015
LGO Energy has announced that its wholly owned subsidiary, Goudron E&P Limited, has now drawn an initial $11.78 million from the $25 million pre-paid oil swap facility agreement with BNP Paribas to fully fund the planned 2015 development drilling programme in the Goudron Field onshore Trinidad.
Cost Recovery: Tedious or Necessary?
Monday, 9th March 2015
Cost recovery is considered a cornerstone of Production Sharing Agreements (PSAs); as operators of the concession or international oil companies (IOCs) bear all operation and capital expenditures in a new concession as well as the risks, cost recovery has become a main mechanism through which the contractors are to recover their costs and generate profits.