Home' Trinidad and Tobago Guardian : December 12th 2013 Contents DECEMBER 2013 • WEEK TWO www.guardian.co.tt BUSINESS GUARDIAN
ENERGY | BG9
Monday's announcement by Trinity Explo-
ration and Production plc, that it had dis-
covered between 50 and 115 million barrels
of oil in its Galeota block is testimony to
the fact that there is more oil to be found
off Trinidad's east cost according to three geologists.
Dr Krishna Persad and Helena Inniss-King all agree that
the discovery is significant in the context of the theory that
there is still more oil off the East coast which has already pro-
duced more than a billion barrels of crude.
Persad said, "I have said this on numerous occasions that
there will be discoveries off the east coast up to a maximum
size of 500 million barrels of oil in place."
Inniss-King told the Business Guardian, "The
Trintopec/Petrotrin Galeota Area has always been a potential
gold mine. The only reason it was not explored since Dominion
Oil drilled some wells in the 1960s and Trintopec in the 1980s
was because of a lack of funds and the perception that the
area was risky. It is not without risk, but there was a discovery
in the 1960s, which was never commercialised. I can't recall
precisely, but one well tested over 800 bopd of light oil. In
light of Petrotrin's inability to generate the funds for drilling
wells in the area, the company, with the approval of the
Ministry (of Energy), tendered out the area and awarded the
acreage to Bayfield, who were then bought by Trinity."
The oil discovery was made at Trinity's TGAL-1 exploration
well within the Galeota license where it holds a 65 per cent
interest, and is the operator of the field. The Caribbean island's
State-owned company Petrotrin LLC holds the remaining 35
per cent interest in the block.
This is the second successful exploration well Trinity has
drilled on the Galeota licence since 2012 (the first being EG-
8) and the company said it demonstrates the further resource
potential of the block.
The TGAL-1 well was drilled to a total depth of 5,694 feet.
The well was initially planned to be drilled to a total depth
of 6,500 feet, but is currently being plugged and abandoned
at 5,694 feet as no hydrocarbons or reservoir quality sand
were encountered below the 13-3/8" casing point at 4,362
Trinity said it has conducted extensive logging and sampling
analysis to assess the reservoir characteristics and oil water
contacts, and preliminary management estimates indicate
gross original oil in place (OOIP) to be in the range of 50 to
115 million barrels of crude oil (mmbbl).
The Trinity-operated TGAL-1 exploration well was spudded
on October 31 to target an updip extension of the producing
Trintes Field. Drilling operations were undertaken using the
Rowan Gorilla III jackup rig.
Trinity chief executive officer Monty Pemberton said: "The
TGAL-1 discovery is exciting news for all of Trinity's stake-
holders, and our team has done an excellent job in delivering
this successful well safely. Trinity's industrial thesis has always
been to pursue low-risk opportunities in T&T, which we
believe is a prolific, but under-exploited hydrocarbon province.
Our team is now focused on assessing development alternatives
to move this project forward to field development planning
(FDP) as soon as possible."
The company said it will now incorporate the new well
data with existing 3D seismic to determine the best development
concept, if appraisal drilling is needed. It noted that the prox-
imity to existing infrastructure at Trintes could allow first
production by mid-2015.
Inniss-King said the 2015 deadline may be a bit optimistic,
saying it could take up to four years to develop the field.
"Given the announced quantities of sand and size of the
discovery, the company may be going into testing mode to
confirm what has been discovered. Should it be confirmed,
there should be careful appraisal of the discovery (Amoco
failed to do enough appraisal of its Galeota discoveries and
had issues with the development of the Mora field, which
they subsequently surrendered), If after appraisal, the discovery
is shown to be commercial, then there would be development
of the resource.
"This will not be immediate. There may be at least three
to four years before production comes on stream, depending
on the development options chosen"
Inniss-King, who is also president of the Geological Society
of T&T, said Repsol will be drilling an exploration well next
year so they already have an interest and bpTT's big survey
on the east coast attest to the fact there is still exploration
potential on the east coast shelfal area.
"If you examine the acreage that Repsol got on the east
coast, you will realise that it was depth-constrained and this
is because there is the beliefthere is exploration potential in
the deeper horizons," Inniss-King said.
The geologists noted that of the 50 to 115 million barrels
of oil in place, only 20 per cent of it will be produced. Ram-
lackhansingh said this means a daily production of between
5,000 and 10,000 bo/d.
Inniss-King was a little more conservative, saying it as too
early to tell how much production to expect. She said it depends
on the type of reservoir and this area's diagenetic history---
what has happened to the reservoir since it has been deposit-
ed---and tests in a couple of the reservoirs may enable the
company to make an approximation.
Geologists on Trinity's oil find:
More oil off
Trinidad's east coast
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