How long will it take and what is the distance/terrain like for the pipeline to be installed from the storage tanks to the JV processing facility to be constructed? With negotiations for contract, permits, engineering and actually “breaking ground’ doesn’t look like enough time. Do things move that much faster in UAE? It seems like it would take 12-18 months minimum here in USA for a project like this for readiness. The following from the PR news wire of 021306 seems like it is cutting it pretty close for readiness for June/July production. Of course, when your JV partner IS the government may make a big difference...! :>)
“Meetings were also held with Vopak Horizon Fujairah Limited to initiate planning for necessary storage and tanker off and on-loading capability. Vopak is the world's largest tank storage operator and manages the 9 million barrel terminal in Fujairah. Further arrangements have been made with an international firm to provide product metering and verification services.”
Is Vopak the one involved with the storage arrangements “before/after” process AND installing pipeline? Are there any "oil people" to give info about this time line process?
Ken
I have 2m shares in suf to hold, but may buy more as soon as I figure out how to cover with options put/call. It seems like September 15 call/5 put is a good cover where it will by that time be really up, or really down. Any thoughts?
AI
