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Touchstone President and CEO, Paul Baay said "These positive well test results represent a new era for Touchstone as we expect to add significant natural gas volumes to our production base. The results outline the opportunities that still exist for onshore Trinidad exploration and position Touchstone to become a top three onshore petroleum producer.”
BP Trinidad & Tobago (BPTT) announced that it has made a gas discovery with the Ginger exploration well, offshore Trinidad.
Saipem reports that it has been awarded a subsea contract by ExxonMobil subsidiary Esso Exploration and Production Guyana Limited for the proposed Payara development project, located in the Stabroek block offshore Guyana at a water depth of around 2000 metres.
The Energy Chamber is saddened to learn that the Yara ammonia plant in Point Lisas will be closing at the end of the year. The Energy Chamber would like to acknowledge in particular, the impact of this decision on the Yara employees and the contractor workforce who will be negatively affected by the closure.
Maersk has announced that it has entered a contract with BG International Ltd., a subsidiary of Shell, for work offshore Trinidad and Tobago on a two-well development project for the semi-submersible rig Mærsk Developer.
BHP are targeting a Final Investment Decision (FID) on their Trinidad & Tobago northern area deepwater gas development by 2021/22, with first gas project for 2026, once the project is approved. In an investor update on 11th November 2019, Geraldine Slattery, President Operations, Petroleum BHP, provided significant details on BHP’s potential deepwater developments in Trinidad and Tobago.
MHTL, a member of the Proman Family of Companies announced the completion of a 1 billion dollar term facility. The term facility bears interest at a rate of 5.5% per annum for the first 18 months. The term facility has a tenor of three years and is unsecured with interest payable semi-annually.
The Dutch super major Shell, has strengthened its position in renewable energy. The company has acquired 100% of EOLFI, a French renewable energy developer specialised in floating wind projects.
Heritage Petroleum Company has indicated that individuals and their organizations are hosting fake recruitment orientations and falsely promising employment at the company.
According to a press release from Kosmos Energy, the Orca-1 exploration well has made a major gas discovery offshore Mauritania in the BirAllah area.
According to a press release by the company, Baker Hughes, a GE company announced its successful name change to Baker Hughes Company. The Company will be known as Baker Hughes, and on Oct. 18, 2019, its Class A common stock will begin trading on the New York Stock Exchange under the symbol “BKR”.
Baker Hughes is uniquely positioned as an energy technology company, with a diverse portfolio that spans the entire energy value chain. The Company’s new name and brand better reflect its current and intended principal business operations and diversified portfolio.
These changes follow the recently-completed secondary offering of shares of Class A common stock and concurrent share repurchase, bringing General Electric Company and its affiliates’ ownership in the Company to below 50 percent of the voting power of all classes of the Company’s voting stock.
The Proman family of companies announced that as of October 1st, 2019 its construction arm, PAGTT (Proman AG (Trinidad) Ltd), has amalgamated with its operation division, IPSL (Industrial Plant Services Limited), creating a new entity trading as Proman.
According to the BHP Operational Review for Q3 2019, hydrocarbons were encountered while drilling the Boom-1 well. The well was spud on August 28th and the report indicates that evaluation and analysis are ongoing.
Speaking at the opening of the BP Statistical Review of World Energy, Claire Fitzpatrick, Regional President of BPTT subtly announced that BP has submitted a bid to the Ministry of Energy and Energy Industries (MEEI) for a commercial scale solar power project with partners, LightSource BP and Shell.
The Energy Chamber’s Energy Services Sector Survey (ESSS) is a quarterly survey of energy services contractors.
The Minister of Energy and Energy Industries, Franklin Khan, launched a new mentorship training programme in the Ministry of Energy themed ‘Inspiring Trinidad and Tobago’s future’.
BP’s Chief Economist, Spencer Dale, in a one-on-one interview with EnergyNow indicated that prices for services may not see the rebound that many industry players anticipate.
In June, the Government established a Cabinet-appointed multi-sectoral committee to develop a five-year action plan for the use of energy in all sectors of Trinidad and Tobago. The committee has completed its work and has handed in its report to the Minister of Public Utilities, Sen. the Hon. Robert Le Hunte.
The company stated in a press release that a binding conditional agreement was signed with LandOcean for the sale of Range Resources Trinidad in exchange for offsetting all outstanding debt due from Range to LandOcean (currently estimated at US$91 million) and cash consideration payable to Range of US$2.5 million.
Heritage Petroleum confirms that Arlene Chow has been appointed as the interim CEO Heritage Petroleum Company Limited pending the recruitment of a permanent CEO to replace Mike Wylie.
