jmepamplin
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Registered: 28th Dec 07
Location: Essex
User status: Offline
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Fuel companies make the majority of profits through exploration not the retail of the oil on 'the street'
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Tomnova16
Premium Member
Registered: 21st Jan 06
Location: Gerrards Cross Drives: Porsche 911
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My dad tried explaing the electrical diagrams for a rig he did in the north sea. Name escapes me.
I do not know how he does it. Couldn't get my head round it 
Oh he's an electrical engineer designer think he is working alongside bp at moment.
http://www.lemass.co.uk/ for all your automotive/bodyshop needs
Located in Chalfont st Peter
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AK
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Registered: 5th Jul 00
Location: Aberdeen City
User status: Offline
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quote:
Originally posted by jmepamplin
Fuel companies make the majority of profits through exploration not the retail of the oil on 'the street'
what the hell?
How on earth does a company make money from exploration? Exploration is expense - exploration is looking for oil.
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stuartmitchell
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Registered: 24th Apr 04
Location: Kirkliston, Edinburgh
User status: Offline
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AK thats ace! Thanks for the pics mate
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Fee
Member
Registered: 16th Nov 05
Location: With AK
User status: Offline
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quote:
Originally posted by jmepamplin
Fuel companies make the majority of profits through exploration not the retail of the oil on 'the street'
i would have thought oil companies make money by selling the oil they find...not by looking for it 
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Colin
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Registered: 4th Apr 02
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100k BPD producer according to the Shell website, wish we still pumped that much, think were struggling to do 24-25k a day just now, should be back up to 30k+ when I go back on with a new subsea well thats being commissioned.
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Matt H
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Registered: 11th Sep 01
Location: South Yorkshire
User status: Offline
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quote:
Originally posted by AK
I've been on that, it's fucking HUGE 
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Matt H
Member
Registered: 11th Sep 01
Location: South Yorkshire
User status: Offline
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quote:
Originally posted by AK
quote:
Originally posted by jmepamplin
Fuel companies make the majority of profits through exploration not the retail of the oil on 'the street'
what the hell?
How on earth does a company make money from exploration? Exploration is expense - exploration is looking for oil.
Yeah this is bollocks
Eg
BP own the right to the field, they pay to have siesmic work done, then pay a drilling contractor $500,000.00 per day to drill the holes. That's $3.5m per week & it could even end up being a duster. Great way to rake in the money
If there is oil there then the costs upstream to process it aren't cheap either!
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alan-g-w
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Registered: 9th Nov 07
Location: Glasgow
User status: Offline
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I used to do the Weirs (ClydeUnion) sea water injection downhole pumps at the drill head. Was mostly North Sea stuff right enough.
I remember a boy I was working with was on a platform helping with the installation of one of the pumps. He watched ,as after they spent about 3/4 of a day putting pipe down the well, someone ended up dropping a 12" shifter. Cue a major operation to reverse the last 6 hours' work to recover said shifter, fucking brilliant.
[Edited on 13-09-2010 by alan-g-w]
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Jas
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Registered: 13th Oct 04
Location: Mid Wales
User status: Offline
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I dont understand the last comment
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alan-g-w
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Registered: 9th Nov 07
Location: Glasgow
User status: Offline
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If you mean mine. A well head has an opening of about 3ft diameter and that's pretty much where the hole's been drilled for the oil (not that the drill for oil's 3ft in dia). They feed the corresponding length of pipe down into the hole which takes fucking ages. A guy dropped a shifting spanner down the pipe which mean that if it gets pumped up into the separation filters and shit it'll fuck stuff up. So they had to take all the pipe out, something like half a mile at that point and recover this spanner.
[Edited on 13-09-2010 by alan-g-w]
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jmepamplin
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Registered: 28th Dec 07
Location: Essex
User status: Offline
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What i mean is the exploration side to the business. Most people only saw BP as a petrol station and fleet of tankers. I should really of quoted the comment on the previous page.
In theory most of the oil stored on tanker ships is sold long before it reaches shore. Hence exploration profit.
I work for BP 
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stuartmitchell
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Registered: 24th Apr 04
Location: Kirkliston, Edinburgh
User status: Offline
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quote:
Originally posted by Matt H
quote:
Originally posted by AK
I've been on that, it's fucking HUGE
Is it Heerema Marine Contractors that own that one mate?
Where you working now bud? Any jobs going? 
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Fee
Member
Registered: 16th Nov 05
Location: With AK
User status: Offline
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quote:
Originally posted by jmepamplin
What i mean is the exploration side to the business. Most people only saw BP as a petrol station and fleet of tankers. I should really of quoted the comment on the previous page.
In theory most of the oil stored on tanker ships is sold long before it reaches shore. Hence exploration profit.
I work for BP
I still don't think it makes sense
Exploration is one of the biggest expenses an oil company incurs
Production and sales is where they make their money
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alan-g-w
Member
Registered: 9th Nov 07
Location: Glasgow
User status: Offline
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What he's trying to say is that without exploration there's no production or sales. As in exploration comes up with the product, which in turn gets sold to make money.
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jmepamplin
Member
Registered: 28th Dec 07
Location: Essex
User status: Offline
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Yes thanks, why couldn't i say it simply like that.
The retail side of oil companie actually make a small loss to the business, not the massive profits you would expect.
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