According to Reuters, Suriname’s state-owned oil company is planning a bond sale next year to finance offshore oil exploration.
According to Tullow evaluation of logging data confirms that Jethro-1 is the first discovery on the Orinduik licence and comprises high quality oil bearing sandstone reservoirs of Lower Tertiary age. The well encountered 55m of net oil pay which supports a recoverable oil resource estimate which exceeds Tullow’s pre-drill forecast.
The Board and Executive Office of the Energy Chamber is very saddened at the sudden passing of Dennis Patrick, CEO of Methanol Holdings Trinidad Limited (MHTL). Mr. Patrick was an active member and supporter of the Energy Chamber in his capacity as CEO of MHTL and was a presenter at our TTEC 2019 in February at Hyatt Regency. He will be remembered as a well-respected leader in the energy sector. We extend sincere condolences to his family and the MHTL and the Proman Group on Mr. Patrick’s untimely passing. May he rest in peace.
Touchstone spudded the Coho-1 exploration well on the Ortoire exploration block on August 7, 2019 using Well Services rig #80. The Coho-1 well is targeting gas prospects in the Herrera formation at depths between 5,200 and 8,500 feet.
BHP has indicated that it has approved US$283 million (BHP share) in funding to develop the Ruby Project in Trinidad and Tobago.
BP will combine its Brazilian biofuels and biopower businesses with that of Bunge to create a world-scale, highly-efficient producer of sugarcane ethanol in Brazil, BP Bunge Bioenergia. BP’s interest in the new venture will grow its existing biofuels business by more than 50%.
According to a release from the company, BHP has established a US$400m Climate Investment Program to develop technologies to reduce emissions from its own operations as well as those generated from the use of its resources.
The results of the much-anticipated Jethro Lobe wildcat drilling by Tullow will be revealed in mid-August according to Canadian based project partner Eco (Atlantic) Oil & Gas.
There is continued interest in offshore Suriname. Apache has 100% working ownership in block 58 and plans to spud a well in September 2019.
Recently, it was reported that Qatar Petroleum has farmed into two blocks offshore Guyana (Orinduik & Kanuku blocks). It was stated that the Qatari oil company takes 40% of Total’s stakes in the blocks – which means that the company now owns 10% in each block.
Qatar Petroleum has acquired 40% of Total’s stake in the Orinduik and Kanuku blocks. This means that the Qatari company now owns 10% stake in each block.
It is reported that TechnipFMC won a major contract worth over $7b for the Arctic 2 LNG project in western Serbia.
Tullow along with their joint venture partners (Pluspetrol and Ratio Exploration) have decided to move into phase two of their operations in block 47 offshore Suriname.
Credit rating agency Moody’s has announced that the National Gas Company of T&T will maintain a Ba1 rating for 2018.
BPTT’s Cassia Compression development will access 1 TCF of resources, according to Regional President Claire Fitzpatrick.
According to Upstream Online, Exxon has asked two groups seeking the multi-billion-dollar contract to revise their prices as original bids exceeded original budgeted figures.
US Based McDermott announced this week that it has been awarded a sizeable contract by Argentina-based YPF, S.A. to provide pre-front-end engineering design (Pre-FEED) services for a 5 million tonnes per annum (MTPA) LNG Liquefaction Facility. According to the McDermott release, there is also potential to expand the project to 10 MTPA.
The first floating production storage and offloading vessel (FPSO) attached to Exxon’s activities in Guyana now makes the long journey from Singapore to Guyana. It is expected that the vessel will arrive in Guyana’s waters in September.
Earlier this month in Houston, CARIFORUM partner Dominican Republic launched their first ever bid round for both onshore and offshore blocks.
