A “smart” French company to develop our oil field?The French are no longer just noted for their wine, cheese, and fashion but also for high tech, nuclear, avionics and bold strategic business moves such as in Airbus.
But let us not forget energy. Per a recent OilPrice.com story they are also huge in oil exploration and development especially with their Total Energies company (TTE) which has given token pr to be "green" but is forging ahead agressively in traditional energy. See quote from it below my comments.
My take on major partner/buyout candidates at present;
1.) Sinopec - the Chinese.
2.) Total - the French.
3.) Gazprom - the Russians.
Sadly I don't see any American companies or even British. But who knows? Even If they all don't get into a bidding war individually maybe they will partner. Any way under either scenario, with these big multi billion dollar ops I believe we could make out quote nicely.
From OilPrice.com:
"TTE has spent approximately $15-20 billion per year in capital expenditures while claiming annual depreciation and amortization expenses of roughly the same amounts. In other words, TTE has been spending enough money to simply maintain its reserve position, replacing a constantly diminishing reserve base with more, newly discovered reserves."
Especially note the above very well!
"replacing a constantly diminishing reserve base with more, newly discovered reserves."