RE:Comments from Trinidad's Energy Minister today Opening address by Energy Minister Stuart Young at the (SPETT) International Energy Resources Conference and Exhibition 28th June 2021
https://www.energy.gov.tt/wp-content/uploads/2021/06/Ministers-Speech-SPETT-Keynote-Address.pdf Extracts below:
"The COVID-19 pandemic has had an impact on both oil and gas production.
Whereas oil production has rebounded to the 2019 level, gas production is taking a
little longer to regain the momentum that was dampened by plant turnarounds,
reduced demand due to low petrochemical prices and operational issues including
infrastructure work to bring on new production. The issues that impacted on gas
production in 2020 and so far in 2021 have been largely addressed or mitigated."
"Over the next 18 months, new gas production is projected to come onstream from
all of the upstream operators. BHP’s Ruby project is already on stream and
Touchstone’s Coho field is due to come onstream in the third quarter 2021.
Touchstone’s Cascadura and Chinook field are expected to come on line in the
fourth quarter 2021."
And this one:-
"An Onshore Competitive Bid Round will follow the Deep Water Competitive Bid
round. The recent successes onshore by Touchstone and Challenger Energy Group
have served to confirm that great potential still exists onshore. There has been
significant interest in onshore acreage by both potential investors as well as current
Operators. In July 2020, Heritage issued an EOI to global and local energy
companies to express their interest in a joint venture to explore the deeper
perspectivity of its North West District. Three IOCs were shortlisted and a
preferred partner will be selected by the end of 2021. The Ministry intends to build
on such interest and will be offering several blocks in the onshore bid-round.
Extensive 2D and 3D datasets and well data are available to enable the evaluation
of the blocks."