Fernando Alonso exclusive: F1’s returning champion talks Renault 2021 move

first_img Simon Lazenby caught up with Fernando Alonso ahead of his return to Formula 1 with Renault next season “Honestly, I expect to be straight up to speed,” stated Alonso. “But I’m aware of the challenge that maybe I face in the first couple of races. Not only on pure speed, but also on procedures, steering wheel commands, things that are new for me and could take some time. I’m aware that I could struggle a little bit.“But I want to think that it will not happen.”‘Stopwatch will decide when I stop, not third title’Alonso has signed an initial two-year contract with Renault, meaning he is set to race until at least the age of 41. But, when asked if he will keep racing until he secures what feels like a long-overdue third title, he said his competitiveness will be the deciding factor, not championships.“I don’t think I will target a certain result before I stop,” he told Lazenby. “I think in motorsport, the stopwatch tells you when it is time to stop, not the age. I hope the stopwatch is on my side in the next coming years.” But he also knows he needs more track time, adding: “When you go out of the sport for two years and then you drive a Formula 1 car again, everything surprises you like the first time. I need those laps now.“The simulator is good until a certain point, but then you need the physical effort of the car, the G-forces, the training of the neck. I need as many laps as possible.”First few races could be a ‘struggle’… but will they be?That’s not to say Alonso expects to be rusty when he does get started officially next year – even though he acknowledges that it could be a ‘struggle’. – Advertisement – – Advertisement – – Advertisement – Talks between Renault and Alonso ramped up after Daniel Ricciardo’s surprise confirmation, back in May, that he would be leaving for McLaren, before a reunion between the French team and the driver who claimed their last two Drivers’ Championships in 2005 and 2006 was announced in July.With Renault fifth in last year’s constructors’ standings, they didn’t appear to have what Alonso has always stressed would be key for him making an F1 comeback – a winning package – but he insisted to Simon that, with new rules on the way in 2022, they are the perfect fit.“[They were the preferred choice] for two reasons,” he continued. “One, in terms of expectations and building something from the midfield to the top, it was very attractive, very appealing. And secondly because I know everyone in this team. I know the passion for racing. It’s the third time I come here and I knew I would feel at home here.”Renault are leading the midfield this season, currently third with four races to go, so the signs for Alonso – a man who has famously not had luck on his side with career decisions in the past – are promising. They will be known as Alpine next season and, presumably, a convenient return to a blue livery.Renault car ‘amazing’ but he ‘needs laps’Alonso stepped up his preparations for 2021 with a filming day in Barcelona last month, completing 21 laps in the team’s current car.“It was amazing,” he said. “It was quite an experience.” 5:17

i3 Energy in fundraise for North Sea development

first_img30th Round license application Following i3’s submission of the Liberator Phase I Field Development Plan to the UK Oil & Gas Authority on September 15, 2017, the company commissioned AGR TRACS International Limited to prepare a Reserve Report (RR) over the Liberator field for the gross reserves that are expected to be developed and produced subsequent to the approval of the Phase I Field Development Plan.The Liberator field is planned to be developed via two horizontal producers in Phase I, targeting the Main and Northwest culminations of the Phase I area. The field will be tied into the Repsol Sinopec-operated existing Blake field ‘host’ infrastructure and produced through the Bluewater-owned Bleo Holm FPSO.A separate potential future Phase II plan is contemplated and may include further development wells, yet these potential reserves are not reported within the RR. UK independent i3 Energy has made progress with multiple funding options to finance its Liberator field development located in the UK North Sea. i3 Energy has been progressing multiple funding options to finance its 2018 development program and is in advanced discussions with multiple industrial parties regarding potential JV arrangements relating to both its 100% owned Liberator oil field and its application within the UK’s 30th Round, the company said in a statement on Wednesday.Pursuant to these discussions, the company said it has received indicative commercial interest from a counterparty to provide 100% of the funding for a multi-well development on Liberator and the company’s 30th Round application block, amounting to estimated total capital commitments of approximately $200 million.JV discussions have reached a mature stage and, should these commercial arrangements conclude in an expected six to eight weeks timeframe, the company would maintain a working interest of no less than 67% in its Liberator and 30th Round application blocks, after a multiple of the capital commitments have been refunded to the parties from post-production cash flow.The Joint Venture discussions also contemplate capital being provided to i3 by an industrial party to enable the Liberator development to proceed utilizing that party’s funding alongside other credit facilities, even in circumstances where the company is unsuccessful with its 30th Round application.However, there can be no certainty that these negotiations and discussions will lead to definitive agreements, the company noted. i3 raises over $3.6M Liberator Field Phase I The company has targeted and extensively evaluated seismic and well data on a highly attractive region of acreage that if awarded to i3 would add to the company’s portfolio 2C Contingent Resources of 22 MMBO (with 63% chance of commerciality) and Prospective Resources Best Estimate of 47 MMBO (with a 51% chance of commerciality), according to AGR.The 30th Round application has been submitted to the UK’s Oil and Gas Authority with work program commitments totaling $13 million.Neill Carson, i3’s CEO, commented: “We have been incredibly busy progressing multiple funding options for both our 100% owned Liberator development and the low risk development growth opportunity we have applied for in the 30th Round.“There is strong momentum within the company and today’s funding strengthens our financial position allowing us to continue our engineering plans for our Liberator development ensuring the company is ready for the next operational stage of the project.”Graham Heath, i3’s CFO, commented: “This fundraise enables the company to quickly advance key initiatives and procurement for our Liberator development, in addition to funding engineering activities that we believe will assist in concluding a successful joint venture in the near future.” The company has raised £2.57 million ($3.65 million) through the placing of 8,563,630 new ordinary shares in the capital of the company to new and existing investors at an issue price of 30 pence per share, representing a 0.4% premium to the 30-day average for the week ending January 26, 2018.The proceeds of the funding will be used towards prerequisite engineering, trees and wellheads for the Liberator development, and general corporate purposes.last_img read more