What will be sold next to pay for development? APA becoming more attractive for a buyer, a major that wants access to Suriname.
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FID could be sign this week. Apa get ready to spend over $1.25 billion plus
So APA won’t see positive cash flow until~2030, of first oil is 2028.
Don’t forget that TE gets their cost recovery first so APA is not getting 40 percent until all the costs are paid.
TE said development costs $9 billion, Apa has to pay 12.5% of it, so > $1 billion. Where is that coming from? What else will be sold? TE ordered a FPSO of 200,000 bopd capacity. Government takes 20%, and the 2 partners take 40% each. So APA pays over a billion for 80,000 bopd.
APA was never going to see a dime from that block and this will be the final straw. There is no way it takes until 2028 to see first oil unless the French are dragging their feet so APA goes under in the meantime.
Golden Share Clause makes Force Majure look like a French poodle puppy.
Acts of God!? Le No.
Le Republic is God.
Oh dear…
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