On Wednesday 21st November, the new upstream player in Trinidad and Tobago, DeNovo delivers first gas from the Iguana field.
The Iguana field is also the first natural gas field off the west coast of Trinidad to be monetized. Iguana was also the first offshore gas field to be completed utilizing a local jack up rig - Wellservices Rig 110. Iguana is located in Block 1(a).
DeNovo will deliver 80 million standard cubic feet of gas per day (MMSCFD) from the Iguana field for use by the petrochemical plants on the Pt. Lisas Industrial Estate through the National Gas Company of Trinidad and Tobago (NGC).
According to a press release, the fast-track field development was executed in under three (3) years with over 73% local content from over 2.6 million man-hours with zero (0) Loss Time Incidents (LTI’s).
Joel M.C. Pemberton, CEO of DeNovo lauded the achievement of the company for monetizing these stranded reserves. He also indicated that the company would develop more stranded gas fields in Trinidad and Tobago”. This presumably from Zandolie, Anole and Whiptail, which have previously been carded for development circa 2022, 2027 and 2028 respectively.
He also indicated that the achievement was not possible without a $250m investment by the Proman Group. Proman is a swiss based company with significant investments in the petrochemical industry in Trindad and owns and operates 14 petrochemical plants on the Point Lisas Industrial Estate in Trinidad, amounting to more than 50% of the installed petrochemical capacity.
Proman Chief Executive David Cassidy said, “After 30 years of excelling in the Downstream sector, we decided to invest in a local Upstream company at a time when gas curtailments seriously impaired Trinidad and Tobago’s global competitiveness. The Iguana field development is a perfect example of global collaboration and the diverse competencies within the Proman Group, as DeNovo was supported by other Proman companies to deliver this project in record time to a world-class standard.
The National Gas Company of Trinidad and Tobago (NGC) owns a 20% stake in Block 1(a). NGC is also the offtaker for the gas produced. President of NGC, Mark Loquan said that "DeNovo’s first gas production is an important milestone for our industry as it highlights a local player coming into the petrochemical gas market. Production from the Iguana field is also very significant as Trinidad and Tobago’s first west coast natural gas field development. The speed at which this field was developed highlights the level of commitment, talent and innovation which exists in Trinidad and Tobago’s Energy Industry.
He added, “I am especially pleased that the Iguana development was done through a joint venture with NGC, and with the work done by a local team focused on maximising local content for the benefit of Trinidad and Tobago. Our country continues to be at the forefront of new and innovative developments in energy, and I see a bright future for our industry”.