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.
ExxonMobil and PETRONAS have discovered hydrocarbons at the Sloanea-1 exploration well on Block 52 offshore Suriname, adding to ExxonMobil’s extensive finds in the Guyana-Suriname basin. The well was drilled by operator PETRONAS, and the discovery is being evaluated to determine its resource potential.
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.
The Energy Chamber fully supports the privatization of the Pointe-a-Pierre refinery to put the asset to productive use. Significant capital investment is needed to bring the assets of the refinery back into productive and profitable use. This investment will need to be very carefully deployed and managed and there is significant risk involved. For this reason, the Energy Chamber is clear that no further Trinidad & Tobago tax-payers funds should go into this investment and that the capital must come from the private-sector. Given the size of the needed investment, the capital will likely be from an international investor, though local private-sector involvement would also be welcome. Click to read more…
Invitation to Tender: Design, Supply, Install and Commissioning of a Solar Photovoltaic Generation System at the Piarco International Airport
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.
Shell EOI - Literacy and Renewable Energy Programmes
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.
BHP EOI for the provision of Geohazards and Geophysical Surveys
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.
The Energy Chamber of Trinidad & Tobago (ECTT) recently signed a Memorandum of Understanding with Staatsolie Maatschappij Suriname N.V. (Staatsolie) to collaborate on building health, safety and environmental (HSE) capacity in the Surinamese oil & gas sector.
BHP Expression of Interest: Provision of the Identification Phase Concept Study for BHP's Deepwater Calypso Project
