GREY:ROAOF - Post by User
Comment by
OILANDGASon Aug 07, 2004 4:22pm
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Post# 7787020
RE: Why the marriage with CNR because
RE: Why the marriage with CNR becauseThe DTI arranged the marriage between CNQ and OIL but it was up to the participants to work out a mutually satisfactory deal. The deal is like a seismic option where they jointly acquire 3-D seismic and then make a decision to drill or drop the option. The benefit for Oil to participate in the marriage with CNQ was that it fast tracked the eastern part of Block E approval. If they had not made an arrangement with CNQ then it is rumoured that approval for the eastern part of Block E would have had to gone to higher authorities in the government. Being summer this could have taken a month or so.
Some of this discussion is conjecture on my part based on a few rumours circulating in the patch.