Like it or not SNP is new to the oil exploration game. They were a refiner and have very limited experience. As for Addax, they have never been involved in a complex, deepwater gas and condensate field which is what we likely have here. Addax was a very small and relatively young company when SNP purchased them. Do they have some expertise? Yes. Do they have the expertise for this project? Absolutely not.
There are maybe 8 or 10 companies in the world that could handle this and I can assure that neither SNP nor Addax is on that short list. Why do you think they are going to have some more eyeballs come in and review this? I could see the team that is reviewing this consisting of dozens of project engineers, petroleum engineers, geologists, geophysicists and other key personnel teaming up on a project of this magnitude. I am certain that Addax and SNP does not have that kind of manpower at their fingertips. Don't assume that because SNP is large they have the expertise for this. They don't.
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