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The Energy Chamber of Trinidad and Tobago announces the launch of its Local Content Management System. The launch of the system took place in a virtual event on September 9th, 2020. In attendance were over 300 representatives from the Upstream, Downstream and Energy Service contractors and suppliers, from Trinidad & Tobago, the wider Caribbean and internationally.
bp Trinidad and Tobago (bpTT) today announced the successful completion of negotiations with the Government of Trinidad and Tobago on extensions to its Exploration & Production licences.
Kosmos Energy (Kosmos) has entered into an agreement with B.V. Dordtsche Petroleum Maatschappij (Shell), a wholly-owned subsidiary of Royal Dutch Shell, to farm down interests in a portfolio of frontier exploration assets for approximately $100 million, plus future contingent payments of up to $100 million.
ExxonMobil has made its 18th discovery offshore Guyana at the Redtail-1 well which will add to the previously announced estimated recoverable resource of more than 8 billion oil-equivalent barrels on the Stabroek Block.
The Ministry of Energy and Energy Industries (MEEI) continues to closely monitor the developing situation with regards the Venezuelan FSO NABARIMA. As stated earlier in the MEEI’s press release on September 2nd, 2020, the NABARIMA stores crude produced from the COROCORO field which is operated by a Joint Venture (PDVSA 74% ENI- Italian Multinational 26%).
As part of its program to support emerging entrepreneurs in the Latin America and Caribbean (LAC) region to overcome the challenges of the pandemic, IDB Lab, together with its partners Deetken Impact Sustainable Energy and CABEF-HREFF, approved new debt financing to the Trinidadian company Energy Dynamics Limited (EDL) to provide services throughout the Caribbean to help companies convert to clean energy, improve their energy efficiency and install technology that reduces possibility of COVID outbreak in internal office spaces.
Entrepreneur, Michael Parris has been shortlisted among 21 finalists for the 2020 Shell LiveWIRE Top Ten Innovators Awards, a global competition that highlights and rewards businesses that demonstrate excellence in innovation. Parris’ company, Soular, is the only Trinidad and Tobago company to be shortlisted from among 136 applications received from 15 countries.
io consulting (io) announced that it has been awarded a contract for a bankable feasibility study (BFS) by NewGen Energy Limited (NewGen) to support development of a proposed carbon-neutral/green hydrogen production facility in Trinidad and Tobago (T&T). The hydrogen output from the project is intended as a “green” input to ammonia production at the Trinidad Nitrogen Company (Tringen) facilities in the Point Lisas Industrial Estate. io is a joint venture of Baker Hughes and McDermott.
The Minister of Energy and Energy Industries, Franklin Khan in a live virtual press conference has indicated that the crude oil reserves in T&T has increase since 2012. In the Minister’s presentation, he said that the crude oil reserves audit was conducted by Netherland Sewell and Associates (NSAI) and reflected the reserves position at the end of 2018.
Apache announced a major oil discovery at the Kwaskwasi-1 well drilled offshore Suriname in Block 58. The well was drilled using the Noble Sam Croft with Apache as operator holding a 50% working interest and Total holding a 50% working interest.
According to the company, the well identified two additional high-quality reservoirs, one adjacent to, and the other below the Yellowtail Field, further demonstrating the world class quality of this basin.
The National Gas Company of Trinidad and Tobago Limited (NGC) and BHP announced the successful completion of negotiations of a Gas Sales Agreement for the Ruby Field.
CARICHAM, the Network of Caribbean Chambers of Commerce, elected Dr. Thackwray “Dax” Driver, President & Chief Executive Officer (CEO) of the Energy Chamber of Trinidad and Tobago as its new Chairperson and Mr. Andrew Satney, Executive Director (ED) of the St Kitts & Nevis Chamber of Commerce as its new Vice-Chair at its first Annual General Meeting (AGM) held on June 29th, 2020. They succeed Ms. Lizra Fabien, ED of the Dominica Association of Industry & Commerce and Mr. Trevor Fearon, former CEO of the Jamaica Chamber of Commerce who functioned as Chair and Vice-Chair during the Network’s first year of operations.
Touchstone has announced very encouraging results from their latest round of testing on the Cascadura-1ST1 reservoir. According to the company, gas analysis indicated sweet, liquids-rich natural gas with no hydrogen sulfide and no entrained water.
Our ambition is to be a net zero company by 2050 or sooner, and to help the world get to net zero. This means tackling around 415 million tonnes of emissions – 55 million from our operations and 360 million tonnes from the carbon content of our upstream oil and gas production. Importantly, these are absolute reductions to net zero, which is what the world needs most of all. We are also aiming to cut the carbon intensity of the products we sell by 50% by 2050 or sooner.
The Energy Chamber conducted a survey among signatories to understand their actions and steps taken toward becoming more energy efficient.
According to those surveyed, 95% of the companies indicated that they have attempted to reduce the use of natural resources and electricity in their operations and over 70% of respondents report that they have examined the possibility of including renewable energy sources in their operations.
Since 2010, the energy sector in Trinidad and Tobago has suffered from natural gas curtailments which have caused problems for the LNG industry and the petrochemical industry at Point Lisas. However, according to the Managing Director of the new private local enterprise, NewGen Energy Limited (NewGen), Philip Julien, “it might be helpful to reframe the challenge – the curtailments really mean that Point Lisas is actually suffering from a shortage of hydrogen – the essential input for ammonia and methanol production which is sourced from natural gas.”
Bahamas Petroleum Company (BPC) and Columbus energy have announced an all share merger. The merger will create a ‘Caribbean and Atlantic margin-focused oil and gas champion’, BPC told investors.
The local and international energy sector continues to grapple with the effects of COVID-19. This pandemic has implications not only for the health and well-being of individuals but also for risk management and the continued safe operations of energy companies. This new dynamic makes the updating of response guidelines essential as companies globally strive to manage the new risks as well as continue to operate safely in the new normal. NGC and the Centre for Chemical Process Safety (CCPS) have therefore partnered to produce updated response guidelines and insights to assist companies across the world to manage new risks and continue operating safely.
Last year, bp Trinidad and Tobago (bpTT) paid the government over TT$2.3b in taxes. This according to the recently released report on payments to governments for the year ending December 31st 2019. bpTT is the largest natural gas producer in Trinidad and Tobago.
