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Occidental Petroleum Corporation Message Board

  • cabbage_farmer cabbage_farmer Apr 26, 2004 9:36 AM Flag

    On Returning To Libya...

    Yes revenue and reserves may well be significantly enhanced BUT:

    (1) Twenty-two years takes its toll on
    abandoned equipment in desert sand
    storms. Unlocking the gate and turning
    on the pump is a "pipe dream."

    (2) French mercenary oil workers together
    with limited knowledge locals may have
    done a good deal of damage.

    (3) Oasis Group (AHC, MRO and COP) will have
    the lions share of the U.S. rights to the
    reopened fields. Yes OXY is inveted back
    but will we get our former property with
    known reserves or leftover pickings from
    the Oasis Group cartel?

    (4) Rebuilding infrastructure (really nearly
    the entire system), will be the develop-
    ers cost responsibility entirely. What is
    there now isn't up to code standards, and
    God only knows what Khadafi did to it
    during the ensuing events after 1982.

    Am I being the profet of gloom and doom to say we won't recover a penny of profit for a good 3 years?

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