Dew-- It isn't entirely clear from the pr that the $1.39 is the only profit the consortium will receive. It may be possible that the 1.39 is the incentive payment to increase production beyond current levels and that the basic service contract provides for another dollar amount per barrel in addition to production costs. Perhaps not, one would have to read the contract.
As it is, the 1.39 amounts to about 2,500,000 a day and while not a a high rate of return on investment it's still around 900mm$ a year profit at full production. Obviously some companies saw it in their interest. It allows them to retain a large skilled workforce, to stay involved in an oil rich region, to pay overhead and to help optimize equipment supply contracts at high volume rates.
Just guessing.
John
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