Petrel Resources - moderated discussion/research part II
bahouse - Thu, 28 Dec 06 :
Markqi
The whole basis of having to rewrite the HCL is to be able to offer PSAs. It was written by the US. Why do you think? WE have had numerous aricles quoting IMO offcials saying PSA are the future of investment in Iraq oil industry. S&L may take longer to convert to PSA, as it may not if the IMO chose to pay Pet in PSA % rather than the rest of the money on the servicing contract. The IMO has recently said contracts such as S&L will be reviewed. Could it be because they want to convert IT NOW rather later? Just a thought to consider. Plus we have Merjan, Block6 and apparently another deal to go for in the south. Anyone of these will be awarded on PSA basis. THAT IS WHAT THE IMO HAS BEEN SAYING AND THE US WANT.
Finally, we are more than qualified to know than the journalist you quote- we've been here more than 2 years and been following things very closely as you should know.
