Developing small and marginal fields

Developing small and marginal fields

One of the primary objectives of NGC’s Strategic Plan is to restore balance to the gas supply scenario in Trinidad and Tobago. With supply currently below demand, the Company has been looking at different ways to bridge the gap. Measures have included partnering with Venezuela to monetise the Dragon field, lobbying for renewable energy uptake so molecules could be diverted from electricity generation, collaborating with upstream operators to bring new fields into production and continue their exploration thrust.

Touchstone announces operational and drilling update

Touchstone announces operational and drilling update

It was revealed that four of the seven wells are yet to contribute to the current stabilized production of Touchstone. Paul Baay, CEO Touchstone said "We are excited to increase production in the near-term. With the combination of these four wells and the remaining three to be drilled this year, 3 we are looking forward to a strong start to 2019.

Hess announces increased resource estimate for Stabroek Block

Hess announces increased resource estimate for Stabroek Block

Hess Corporation  announced an increased estimate of gross discovered recoverable resources for the Stabroek Block, offshore Guyana to more than 4 billion barrels of oil equivalent, up from the previous estimate of 3.2 billion barrels of oil equivalent.

BHP encounters gas at Victoria 1

BHP encounters gas at Victoria 1

Today, BHP released their Operational Review for the year ended 30 June 2018 and released information on success at Victoria-1, drilled offshore Trinidad in Block 5.

SBM gets contract for 2nd FPSO at Liza

SBM gets contract for 2nd FPSO at Liza

SBM Offshore recently announced that ExxonMobil subsidiary Esso Exploration and Production Guyana Limited (EEPGL) has awarded the Company contracts to perform Front End Engineering and Design (FEED) for a second Floating Production, Storage and Offloading vessel (FPSO) for the Liza development located in the Stabroek block in Guyana

Social expenditure in times of declining revenue

Social expenditure in times of declining revenue

At the recent launch of the Trinidad and Tobago Extractive Industries Transparency Initiative (TTEITI) Report 2016, perhaps the most anticipated information, apart from whether or not any ‘unexplained discrepancies’ were reported, was the figure for total flows to the Government of Trinidad and Tobago from the reporting companies in the oil and gas sector.  And, even with some knowledge and appreciation of the steady decline in commodity prices coupled with low oil and gas production levels, this figure will still come as a surprise to many.

Private funding for Petrotrin

Private funding for Petrotrin

It is up to Petrotrin’s board to determine the strategic direction of the company so there can be change, this according to Energy Chamber President, Dr. Thackwray Driver. He added that the funding to support the change must come from the private sector, not Government.

Yet another discovery and a third drillship offshore Guyana:

Yet another discovery and a third drillship offshore Guyana:

Exxon has today announced yet another oil discovery offshore Guyana and also revealed it is adding a third drillship to further accelerate its exploration programme.   The third drillship will operate on an exploration programme in parallel with the Stena Carron, while the Noble Bob Douglas will work on the development well drilling programme for Liza Phase I.

Tullow completes Jamaica seismic

Tullow completes Jamaica seismic

Tullow Oil has completed seismic work on its operated offshore Walton Morant licence according to an article in Upstream. London-listed partner, United Oil and Gas (UOG), indicated that the conclusion of the 2,250 square kilometres 3D – seismic acquisition survey has moved the partners closer to de-risking the high-graded Colibri target. Tullow holds an 80 per cent interest in the licence and the remaining 20 per cent is held by UOG. 

Kosmos to respud well in Suriname

Kosmos to respud well in Suriname

According to a press release from London-listed Kosmos Energy (Kosmos), the company will respud an exploration well off Suriname after encountering difficulties while drilling. 

Range Resources hits output target

Range Resources hits output target

According to an article in the Upstream, Range Resources has not only realised it forecast production target but has done so comfortably ahead of schedule. The article goes on to explain that their success can be largely attributed to its optimisation programme in Trinidad, which contributed to the company registering a 43 per cent increase in output over the last 12 months, having forecast 800bpd but registering an average of 820bpd. 

Efficiency, renewables must be at the core of energy policy

Efficiency, renewables must be at the core of energy policy

Trinidad and Tobago is one of the least energy-efficient economies in the world and has one of the highest per capita greenhouse gas emissions rates. The introduction of renewable energy, improving energy efficiency and reducing our greenhouse gas emissions have become policy issues on the government’s agenda and are usually included in statements from the current Minister of Energy and Energy Industries and other senior politicians and government officials. However, they often seem to be presented as additional policy issues for consideration, rather than issues at the core of overall energy policy. 

The opportunity cost subsidy for electricity in 2017: US$508M

The opportunity cost subsidy for electricity in 2017: US$508M

The Energy Efficiency and Alternative Energy Committee of the Energy Chamber has taken a critical look at the electricity sector in Trinidad and Tobago and continues to show the opportunities where government can reclaim value in the gas sector. According to the Committee led by Christopher Narine-Thomas, the opportunity cost subsidy in 2017 rose to US$508M. 

Minister calls for greater energy efficiency

Minister calls for greater energy efficiency

Decreasing electricity consumption will have a major overall economic benefit for Trinidad and Tobago. This is because every unit of natural gas not sold to low-priced domestic electricity generation can instead be sold to the higher priced petrochemical and LNG sectors, which also means increased export earnings and more foreign exchange. 

The appetite for decarbonisation has reached critical mass and the pace of innovation must match it.

The appetite for decarbonisation has reached critical mass and the pace of innovation must match it.

The surprise news that the cost of offshore wind power in the UK has halved from 2015 levels has been welcomed by the renewables sector and environmental advocates alike. In the latest round, CfDs were awarded to Innogy (Triton Knoll), EDPR (Moray East) and DONG Energy, whose Hornsea 2 will become the world’s largest windfarm when it produces first power in 2022-23. At the same time, downward pressure on oil prices continues to accelerate the interest of oil and gas majors in renewable energy – which in turn has driven greater investment in development of technology.

Using our CO2 Emissions

Using our CO2 Emissions

Oilfield control was the reason behind many 20th-century conflicts. European colonization of Trinidad and the Caribbean was driven by a desire for territory, new sources of food, raw materials, minerals, and – later in Trinidad’s case – oil.