Shell Trinidad and Tobago announced that the company has taken Final Investment Decision (FID) for the development of Block 22 and NCMA-4 in the North Coast Marine Area (NCMA).
The Joint Chambers fully support the sentiments expressed at this morning’s press conference by the Minister of Labour, Small and Micro Enterprises. We commend the Minister and the Government for taking proactive steps to address this unprecedented threat to the people of Trinidad & Tobago.
Apache announced that the company will be taking multiple actions being taken in response to the current oil price environment. The changes include adjustments to its 2020 capital investment plan which drops to a range of $1.0 billion to $1.2 billion from a previous range of $1.6 billion to $1.9 billion.
Touchstone Exploration indicated that after the second stage of testing at the Cascadura 1ST1 well, the tests delivered a combined average of 10,600 boe/d.
The Network of Caribbean Chambers of Commerce (CARICHAM) notes with significant concern the current situation in Guyana.
MPU offers Energy Efficiency Training MPU offers Energy Efficiency Training
Expression of Interest: Provision of Marketing Services for the Cooperative Republic of Guyana’s Oil Entitlement from the Liza Destiny FPSO Vessel
Trinidad and Tobago is now one step closer to having significant renewable energy on the grid. At the post cabinet briefing, Prime Minister, Dr Keith Rowley announced that the cabinet took a decision in T&T to proceed with our renewable energy initiative”
BP set a new ambition to become a net zero company by 2050 or sooner, and to help the world get to net zero.
The Ministry of Energy and Energy Industries has released the Ryder Scott report on the Natural Gas Reserve Audit 2018.
In the 2019-2020 budget presentation, Minister Imbert announced some changes to the fiscal environment under which the oil and gas companies operate, but more so oil. Many oil producers have lobbied for the government to adjust the Supplemental Petroleum Tax (SPT) to make it less burdensome. When the Minister announced the changes, at first glance it seemed like a positive change, however the Minister also announced changes to the capital allowance schedule for energy companies involved in exploration and development. The result will have a negative impact for companies in the oil sector. Paul Baay, President and CEO of Touchstone Exploration said in an interview, “We’re definitely in a worse position than we were before the budget.”
Even though Trinidad and Tobago’s energy sector is dominated by natural gas, oil production continues to play an important role in the economy. For many years the state-owned oil company, Petrotrin, accounted for the majority of oil produced in Trinidad.
EOI for Fuel and Services
The Caribbean Single Market and Economy (CSME) is suffering from an implementation deficit. Many of the measures that have been agreed at a CARICOM Heads of Government level have not been fully implemented by the respective national governments. The Energy Chamber of Trinidad & Tobago urges the political leadership of the region to move aggressively towards the full implementation of the CSME.
On 27 January 2020, Mrs. Arlene Chow, Chief Executive Officer, Heritage Petroleum Company Limited, signed the Safe to Work (STOW) Charter committing the company to utilise the STOW certification system to assess contractors’ health, safety and environmental (HSE) management systems. The company set a deadline date of 31 July 2020 for their contractors to be certified to the STOW HSE requirements if they wanted to continue to do business with the company.
Exxon announced its first discovery for 2020 in Guyana. The latest discovery was at the Uaru exploration well.
Maersk Drilling has announced that it been awarded a contract for the 7th generation drillship Maersk Valiant. The contract was awarded by US-based, Noble Energy and will be utilised for a one-well campaign offshore Colombia.
National Energy has awarded Blue Ocean Marine, a contract for the crewing and manning of its vessels according to a release from the company.
BHP recently released their operational review for 2019. According to the report, in Q4 2019, the company completed the exploration programme on the Trinidad and Tobago Northern Licenses.