- from offshore_technology
- Cairn Energy, minority interests in the Kraken
- from cDiver, November 15, 2013 -- Kraken oil field gets "green light"
Why The Kraken Became News In 2019
IM-SO 2020: this is quite incredible. All that talk about no/low-sulfur fuel for ocean-going tankers; no one prepared. Solution found, and just in time: ships will simply burn unrefined sweet crude oil. Problem solved. Bloomberg has the story. Gonna drive faux environmentalists bonkers. Gotta love it. Winners:
- Kraken, off the UK coast
- west Africa
- Brazil, not mentioned in the Bloomberg article, but see graphic below
- except that Bakken is way too light for these ships that were burning "heavy" fuel, Bakken would have been a good choice, and it still might be a good choice; time will tell; my hunch, now that the secret it out, these ships can burn anything -- sort of like Willie Nelson's bus
Cairn Energy has moved back into profit and lifted forecasts for how much oil and gas it will produce this year. Shares in the company rose sharply after it raised targets as a result of the strong performance from its North Sea assets in the first six months of 2019.
Cairn, based in Edinburgh and listed in London, has minority shares in the Kraken and Catcher fields in UK waters. Its exploration interests cover countries including Britain, Norway, Senegal, Mexico and Israel.