Originally Posted by
Xerof
Bilo,
The other salient factor for cashflow going forward re Tui, is the investigation being undertaken to increase the capacity of the FPSO from 120k to 150k per day. On the current reserves estimate of 50.1m barrels, this means extraction of this amount is advanced by 7 years to 2013 instead of 2020. This won't kick in until 2010 though, so still expect a dip in cashflow from Tui for 2009.
Add to this the fact they have extended the contract on the FPSO out a further 5 years, and you'd have to say they are quietly confident on adding to reserves, from either existing or nearby or both.