Have been thinking about the #Cyprus #Chevron deal alot today. From the minister "We will be monitoring closely the fulfillment of the obligations of Chevron and its partners, on the basis of the approved Development and Production Plan and the Production Sharing Contract.”
For that section of the statement to "have some weight" in it - it must mean Cyprus put some short term milestones for Chevron to adhere to. Otherwise Cyprus has nothing to monitor for the next few years until Chevron decide. Rendering any monitoring msg in the statement baseless
Of course neither Chevron or Newmed would like to or need to divulge any milestone specifics but I don't see any other way Cyprus would legitimately revoke their notice of breach and give Chevron free reign unless with a next milestone to ensure progress and monitor against
@chameleonGR People are missing some points. @GePapanastasiou put a 25m per year deal on the table to get to 125m needed. By time of spending that money when done properly the project is operational/de-risked and contributing to lowering of prices etc
@chameleonGR @GePapanastasiou 25m a year during the start up to operations is NOTHING relative to the cost of inaction and in any case Cyprus doesn't have a problem over the years continuing to leak money to corruption and yet now its playing "holier than Jesus christ" to safeguard spending of 125m???
@chameleonGR @GePapanastasiou You don't get many entrenched interests talking about the point that the risk of loss to Cyprus is marginal when considering the need to do it and the cost of inaction being much higher not only financially but more importantly strategically/regionally
Heres my views - starting to think through how this plays out for and with Cyprus. Interesting times. Would be great to see a BP-ADNOC-Cyprus success story. Its tough but somehow they can get there. sway.cloud.microsoft/QHozKB1dCUsfIf…
@business We should take current news into consideration with analysis from 9th of June to see what was seen as writing on the wall from then and where things have now landed. Not much of a surprise really...
@business back in June had run my own analysis of everything hinted at and directly mentioned in the MEES article of 9th June about BP ADNOC - Analysis here: sway.office.com/BWnqlB6Q3iknAR…