Heritage Petroleum Company Limited announces the successful completion of negotiations with the Government of Trinidad and Tobago for a new Exploration & Production license in its offshore acreage.
Viewing entries in
News
BHP announced that, after 16 years of leadership as BHP’s Country Manager for Trinidad and Tobago, Vincent Pereira will retire, effective June 2021. Michael Stone, Operations Manager in Trinidad and Tobago, will succeed Vincent as Country Manager.
BPC announced the commencement of the drilling of Perseverance #1 offshore Bahamas. The well was spud on 20 December 2020, at 06.30 EST. The well is anticipated to take 45 - 60 days to complete.
The National Gas Company of Trinidad and Tobago Limited (NGC) signed a natural gas supply agreement with Primera Oil and Gas Limited, a subsidiary of Canadian energy exploration company Touchstone Exploration on Friday 18th December 2020. Primera, acting on behalf of its Joint Venture partner Heritage Petroleum Company Limited, will supply gas from the Ortoire Block, initially from the Coho-1 field.
MPC Capital AG (Deutsche Borse Scale, ISINDE000A1TNWJ4) has announced that RBC Trust (Trinidad and Tobago) Limited, a subsidiary of RBC Financial Caribbean Limited, has committed USD 10 million into its Caribbean listed feeder-vehicle to further grow the portfolio of renewable energy assets.
Proman Stena Bulk has finalised an agreement to build an additional vessel under its joint venture partnership. The methanol-powered Stena Prosperous will join the Stena ProPatria and the Stena ProMare in the Proman Stena fleet in Q2 2022. Each vessel will use 12,500 tonnes per annum of methanol as a marine fuel, significantly reducing emissions in their normal commercial operations compared to conventional marine fuels.
A wave of green and blue hydrogen projects that are poised to be developed in coming years could unlock about $400 billion worth of spending for the service industry between 2020 and 2035, a Rystad Energy industry analysis reveals. The figure excludes separate carbon capture and storage (CCS) development contracts, which could reach almost $35 billion for Europe alone.
Nutrien announced the launch of the agricultural industry’s most comprehensive carbon programme, providing end-to-end support for growers to drive improved sustainability and boost profitability. As the world’s largest provider of crop inputs and services to growers, Nutrien is uniquely positioned to create the only programme at scale. It is ready to partner directly with growers to plan, plant and track sustainable farming practices and improve carbon performance.
2020 has been an exceedingly difficult year for the energy industry and in particular, for energy services contractors. Seventy-five per cent of respondents indicated that the value of their business was below normal in Q3 2020. Seventyfive per cent of those companies indicated that the decline was due largely to reduced demand for services, while 67% also indicated that there were fewer business opportunities during the time period. To a lesser extent, companies also identified a decrease in selling prices and loss of contracts as other reasons for the reduced business.
Senator the Honourable Franklin Khan, Minister of Energy and Energy Industries assumed presidency at the 50th Latin American Energy Organization (OLADE) Meeting of Ministers which took place on November 19th, 2020 via webinar.
In its Q3 report, Touchstone Exploration unveiled that it has invested $5,758,000 in exploration activities onshore Trinidad. The expenditure has been primarily focused on Chinook-1 drilling operations and surface facility equipment expenditures relating to Coho-1 tie-in operations.
Ramps Logistics has been awarded a fully integrated contract with Tullow Oil for its upcoming drilling campaign in Block 47, Suriname. The company stated that the contract covers logistics and shore-based operations between Trinidad and Suriname.
Predator Oil & Gas Holdings Plc (Predator), the Jersey based Oil and Gas Company with operations in Trinidad, Morocco and Ireland, has announced that the Permanent Secretary for the Ministry of Energy and Energy Industries has approved the use of the CO2 recovery system, installed and commissioned by Predator and Massy Gas Products, associated with the CO2 Pilot Project at the FRAM Exploration Gathering Station #4 in the Inniss-Trinity field.
In pursuit of achieving a target of 10% renewable energy in T&T, two solar projects will be built in Trinidad during the period 2021-2022. The developers of these projects are a consortium comprised of bpTT, Shell and Lightsource bp. The consortium is working with the government of Trinidad and Tobago to build the two projects which are located in Brechin Castle and Orange Grove. The projects are 92 megawatts and 20 megawatts respectively and will be among the largest in the region.
Touchstone Exploration has once again confirmed the existence of natural gas deposits in the Ortoire Block in south east Trinidad. Touchstone’s latest well in its exploration drilling campaign, the Cascadura Deep-1 well, again discovered significant hydrocarbon accumulations. The company has stated that wireline logs indicated natural gas pay totaling approximately 1,315 net feet in four unique thrust sheets in the Herrera sands.
Touchstone Exploration has announced that the Cascadura Deep-1 well encountered significant hydrocarbon accumulations based on drilling and wireline log data. The company said that wireline logs indicated natural gas pay totaling approximately 1,315 net feet in four unique thrust sheets in the Herrera sands from a depth of 5,455 feet to total depth.
Ramps Logistics has been awarded an integrated contract with Tullow Oil for its upcoming drilling campaign in Block 47, Suriname.
The Energy Chamber fully supports the privatization of the Pointe-a-Pierre refinery to put the asset to productive use. The Energy Chamber has been monitoring the recent announcements from both the Government and from the OWTU with respect to the proposal from Patriotic Energies and Technologies Ltd and the decision to re-establish the Evaluation Committee to review the latest proposal. We continue to encourage all stakeholders to move expeditiously to find a solution to complete the sale of the assets to a private-sector entity so they will be able to generate value for Trinidad & Tobago.
Italian-based multinational oil company, ENI has announced that they have received a green light from the United States’ authorities to offload crude oil from the Nabarima FSO, without breaking the international sanctions regime. ENI will then be able to repair the vessel. Approval was received from the US authorities on Thursday 29th October, 2020.
Touchstone Exploration has announced that it spud the Cascadura Deep-1 well on October 27th 2020.