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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

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. 

Energy efficiency in power generation in T&T

Energy efficiency in power generation in T&T

Earlier this year, it was announced that Trinidad and Tobago ratified the Paris Agreement. This is a commitment by the government to reduce carbon dioxide (CO2) emissions by 15 per cent in three main sectors of the economy, namely industry, power generation and transport, by 2030. The government therefore has a significant role in driving the changes needed to achieve these targets. 

U.S. aluminum and steel tariffs

U.S. aluminum and steel tariffs

The oil and gas industry in the United States has come out strongly against the steel and aluminum import tariffs introduced by President Donald Trump. On Thursday 8th March, President Trump signed into effect tariffs of 25 per cent on steel and 10 per cent on aluminum, a measure that was a campaign promise geared towards helping waning U.S. industries.

T&T’s natural gas production shows first year-on-year increase since 2013

T&T’s natural gas production shows first year-on-year increase since 2013

Recently released figures from the Ministry of Energy and Energy Industries have confirmed that average gas production in 2017 was up slightly from the previous year. While the year-on-year increase in total production was just 1 per cent, it represents the first year-on-year increase in average production since 2013. 

Exxon forges ahead in Guyana

Exxon forges ahead in Guyana

With the first floating production storage and offloading (FPSO) for the Liza Phase 1 project under construction in Singapore, Exxon and its partners are not only far advanced in the approval process for a larger second FPSO for Liza Phase 2, but also actively considering a third FPSO for Guyana. 

Repsol awards Seadrill drilling work in Aruba

Repsol awards Seadrill drilling work in Aruba

Exploration in the Caribbean continues to pick up. This week it was announced that Repsol has awarded the drilling contractor Seadrill, for an ultra-deepwater drillship to be used offshore Aruba.

Energy Chamber urges caution around contract renegotiations

Energy Chamber urges caution around contract renegotiations

In any renegotiations, the Government must be mindful of our well-deserved reputation as a jurisdiction that fully respects commercial contracts.  We must ensure that this reputation is preserved or even strengthened in this process.

Range Resources drills its best producing well in T&T

Range Resources drills its best producing well in T&T

According to a press release by Range Resources (Range), they are very pleased with the production results from the latest well which, according to the company, is one of the best producing wells drilled by Range in recent years in Trinidad. 

Release of Exxon production sharing contract

Release of Exxon production sharing contract

The Government of Guyana has made public the production sharing contract between the Government of Guyana and ExxonMobil affiliate, Esso Exploration and Production Guyana Limited. The release of the agreement came on the heels of several sections of the business community in Guyana calling for it.  

ExxonMobil announces sixth oil discovery offshore Guyana

ExxonMobil announces sixth oil discovery offshore Guyana

In early January, Exxon Mobil Corporation announced positive results from its Ranger-1 exploration well, marking ExxonMobil’s sixth oil discovery offshore Guyana since 2015. The Ranger-1 well discovery adds to previous world-class discoveries at Liza, Payara, Snoek, Liza Deep and Turbot, which are estimated to total more than 3.2 billion recoverable oil-equivalent barrels. ExxonMobil affiliate, Esso Exploration and Production Guyana Limited, began drilling the Ranger-1 well on November 5, 2017 and encountered approximately 230 feet (70 metres) of high-quality, oilbearing carbonate reservoir. The well was safely drilled to 21,161 feet (6,450 meters) depth in 8,973 feet (2,735 meters) of water.

Eight Point Lisas turnarounds in 2018

Eight Point Lisas turnarounds in 2018

Successful plant maintenance turnarounds in the downstream petrochemical and heavy industrial sector are key to the successful longterm operation of facilities. These turnarounds (or TARs as they are commonly called in the industry) are also key business opportunities for the myriad of service companies and contractors who support the industry. TARs are also important for the thousands of contract workers who pick up temporary employment during these periods, often working long hours and accumulating significant overtime income. 

Ammonia prices increase

Ammonia prices increase

Ammonia prices have rebounded. This rebound comes after a low in August when it dipped below 150 US$/tonne. According to the Food and Agriculture Organisation (FAO), the price continued the upward trend at the end of the year due to lower supplies in the Black Sea where portions of ammonia were diverted to produce urea.