Dr. the Honourable Roodal Moonilal, Minister of Energy and Energy Industries, signed agreements to effect amendments to the Production Sharing Contracts for Blocks 2(c) and 3(a) with Perenco Trinidad and Tobago Limited.
According to the Ministry of Energy and Energy Industries, this milestone follows the successful execution, one month earlier, of three upstream gas supply agreements between the National Gas Company (NGC) and Perenco for gas produced from Blocks 2(c), 3(a), and the Teak, Samaan, and Poui (TSP) fields. These amendments are intended to accelerate the revitalization of Blocks 2(c) and 3(a), which contain mature hydrocarbon fields located offshore Trinidad’s northeast coast.
Last year, Perenco announced that it had completed the acquisition of Woodside’s producing oil and gas assets in Trinidad and Tobago. This move, along with the acquisition of bpTT’s Cashima, Amherstia, Flamboyant, and Immortelle (CAFI) fields earlier this year, solidifies the company as a major oil and gas producer in the country. Following this transaction, Perenco is now the second-largest producer of oil and gas in terms of barrels of oil equivalent (boe), following bpTT and ahead of Shell and EOG Resources.
At the signing ceremony, Minister Moonilal stated that the Government of the Republic of Trinidad and Tobago will continue to support the rejuvenation of mature hydrocarbon fields to extend their producing life by working diligently with companies such as Perenco. Dr. Moonilal further stated that these actions will redound to the benefit of Trinidad and Tobago through the integration of additional volumes into the hydrocarbon value chain.
Also present at the signing of the amendment agreements were the Honourable Ernesto Kesar, Minister in the Ministry of Energy and Energy Industries; Mrs. Ava Mahabir-Dass, Permanent Secretary (Ag.), Ministry of Energy and Energy Industries; Ms. Kezia Redhead, State Counsel II, Ministry of Energy and Energy Industries; Mr. Stephane Barc, General Manager, Perenco; Mr. Allan Russel, Business Advisor, Perenco; Mr. Sam Henry, Commercial Manager, Perenco; and Mr. Luke Rajak, Legal Advisor, Perenco.