Tap Oil Releases Manora Oil Development Update Eurasia Review

Tap Oil Releases Manora Oil Development Update Eurasia Review:

"Tap Oil Limited released Sunday  an update on the Manora oil development project in the Northern Gulf of Thailand (TAP 30% interest).

Mubadala Petroleum, the Operator of the Manora joint venture, has provided preliminary advice of an approximately 13% expected cost increase on the Manora oil development project from the cost forecast at Final Investment Decision (FID) in July 2012.

The total overall project cost of US$246 million (gross and including contingency) forecast at FID has increased to US$278 million (with a reduced contingency); a US$32 million (gross) increase. For Tap, this represents an additional cost of US$9.6 million over the US$87 million announced at FID."

'via Blog this'