EOG Resources Trinidad recently provided a detailed update on its ongoing and planned drilling projects and production forecasts. Under its robust two-year drilling plan, approximately twenty wells are projected during the period of 2023–2025. To facilitate this, the Valaris 249-Gorilla VII will be doing the drilling. EOG Resources Trinidad thanked the Ministry of Energy and Energy Industries for its innovation and initiatives in facilitating and negotiating terms for the development of smaller fields that would bring higher volumes of natural gas to the energy market. The company also commended the willingness of the Government of Trinidad and Tobago to have commercial discussions on the monetisation of marginal fields and highlighted that Trinidad and Tobago remains an attractive territory for hydrocarbon investments.
Minister Young provided feedback on the company’s production portfolio and positively recognised the company’s efforts on the use of local content and the use of new technology for improved seismic images. With the future in mind, both parties acknowledged the present global trends and market factors and agreed to maintain dialogue while working together in a way that is fair and mutually beneficial.
EOG Resources Trinidad Limited, is a local subsidiary of US-based energy company EOG Resources Inc. It holds several concession contracts for the supply of natural gas in Trinidad and Tobago, accounting for approximately 3% of the group’s global reserves.