What percentage of the development of this project? is it halfway? many are interested in this, hopefully this will make the team more enthusiastic to complete this project by achieving success.
In order to answer I have to specify main milestones of the development of the oilfields
- exploration and appraisal ( incl. confirmation of reserves ) I.e.green field
- pilot production I.e. Green to brown
- full scale development I.e. Brown field
Within the overall of our acquisitions
- one field - high profile exploration (might be major project in the future )
- one field on the appraisal stage I.e. Reserves confirmed
- four fields on the pilot production stages
Thee biggest issue with the oilfields development is confirmation of reserve ,ounce you have it it's easy to obtain financing partner to develop the fields