Trinity Exploration & Manufacturing has revealed that the Authorities of Trinidad and Tobago Ministry of Vitality and Vitality Industries (MEEI) knowledgeable the corporate that its utility for the Buenos Ayres block, provided within the 2022 Onshore and Nearshore aggressive bid spherical, has been profitable.
The MEEI has invited Trinity to enter into discussions for the grant of an Exploration and Manufacturing (Public Petroleum Rights) License for the Buenos Ayres block, Trinity revealed.
“Trinity may be very happy to have been profitable in our bid for the Buenos Ayres block – we consider it’s a second necessary catalyst in fast succession following graduation of the Jacobin effectively. It’s a cornerstone of Trinity’s refreshed technique and focus to leverage our aggressive benefit within the Palo Seco space,” Jeremy Bridglalsingh, Chief Govt Officer of Trinity, stated.
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“Our funding in buying the North West District 3D seismic dataset and resultant exhaustive subsurface work has offered Trinity with an unparalleled understanding of the trapping mechanisms within the Palo Seco space. Our evaluation of the 3D seismic over Buenos Ayres block, using our in-house information, has highlighted a number of prospects at quite a lot of ranges on this virgin block,” Bridglalsingh added.
He additional famous that the Buenos Ayres block is very uncommon being a comparatively undrilled block in what’s a really mature basin setting.
“As that is proposed to be an Exploration and Manufacturing License we count on higher industrial and stronger authorized phrases than our current onshore sub-licenses, we’re planning to quick observe the primary exploration effectively on Buenos Ayres inside the subsequent 12-18 months, topic to buying environmental approvals,” he stated.
Bridglalsingh additional added that the corporate’s Jacobin effectively, focusing on a deep Miocene Play goal within the Palo Seco space, might be invaluable in amassing knowledge to additional refine the geological mannequin, with a direct bearing on Buenos Ayres.
“Our robust dedication to Buenos Ayres demonstrates our intention to quickly exploit our aggressive edge onshore Trinidad with alternatives materials for Trinity and the place preliminary drilling success can shortly be adopted by a transfer to manufacturing operations,” he stated.
The corporate began drilling the Jacobin effectively mid-Might focusing on a complete depth of 9,800 toes, which is able to make Jacobin the deepest onshore oil effectively drilled within the Palo Seco space in over a decade.
“Following constructive fiscal adjustments final 12 months, the success of this licensing spherical demonstrates that the Authorities is concentrated on stimulating the vitality sector which we count on will proceed to offer further development alternatives for Trinity,” Bridglalsingh concluded.
Trinity expects to be operator of the Buenos Ayres block with an 85 p.c curiosity. Heritage Petroleum Firm, the state-owned oil firm, can have a 15 p.c working curiosity (carried by Trinity by way of the exploration section).
The block covers an space of roughly 41 sq. kilometers (15.8 sq. miles) and is positioned instantly to the west of Trinity’s current producing Palo Seco Blocks WD-5/6, WD-2 and PS-4. The work program consists of 4 exploration wells and technical research over the six-year preliminary license interval.
Buenos Ayres accommodates a number of stacked goal reservoirs of the Decrease Forest, Higher Cruse and Decrease Cruse that are the best reservoirs within the Southern Basin in Trinidad. These reservoirs have produced in extra of 1 / 4 of a billion barrels of oil to this point.
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