Home' Trinidad and Tobago Guardian : January 2nd 2014 Contents "Over 30,000 manhours were spent plan-
ning the $50 million activity, which included
a turnaround and employed over 120 nationals,"
Given the concern over market impact,
bpTT said it worked with the Government
and key stakeholders to align the Cassia pro-
gramme with Atlantic s turnaround on Train
3 and the planned maintenance work of the
"This alignment of upstream, midstream
and downstream activity resulted in minimal
impact to the market due to the reduced gas
demand over the period."
"The Cassia turnaround and work pro-
gramme were of critical importance to our
country and company," said bpTT president
Norman Christie. "We are proud that our team
was able to safely complete the work ahead
of schedule with minimal disruption to gas
supply," the statement added.
Plans to mitigate the effects of the turn-
arounds on the market took place over eight
months. The Ministry of Energy and Energy
Affairs worked with NGC and the Point Lisas
Energy Association (PLEA), a group of 21 major
companies operating in the downstream energy
sector, Atlantic, bpTT and BG T&T, to co-
ordinate and reduce the impact of the sched-
uled maintenance work on Cassia B and BG
T&T s Dolphin platforms between September
The facility is expected to be offline for
approximately 35 days to conduct vessel inspec-
tions and upgrades.
The initial turnaround for BG T&T s Dolphin
platform, in operation for 17 years, was planned
for 26 days, but BG T&T reduced this time
while maintaining the original scope of works.
And, Atlantic s Train 3 Train 3 was also
taken offline for 28 days of planned mainte-
Trinity strikes gold
Independent Trinidad company Trinity
Exploration and Production ended 2013 on a
In early December, Trinity reported an oil
find of an estimated 115 million barrels in east
Energy Minister Kevin Ramnarine described
the only major oil find announced for 2013 as
"good news for T&T" for the Christmas sea-
"We have some positive news for the econ-
omy and the country," he said.
In a statement, Trinity s largest independent
exploration and production company
announced its third exploratory drill had hit
black gold in the TGAL-1 well, off Galeota on
Trinidad s southeast coast.
Initial estimates show the reservoir contains
a production range of 50 million to 115 million
barrels of oil. TGAL-1 was spudded on October
31 to target an updip extension of the producing
Trintes Field, using the Rowan Gorilla III jack-
The well was drilled to a total depth of 5,694
feet, intersecting five targets all containing
good quality oil bearing reservoir sands. The
TGAL-1 well encountered a total of 547 feet
net oil sands containing high quality 28-30
degree API oil.
The API, or American Petroleum Institute,
gravity is a standard measure of density to
determine how heavy or light the petroleum
deposits are. The higher the density (that is,
the lighter the oil) the more valuable it is. This
find may be classified as medium to light crude
oil. Generally speaking, crude oil with density
range of 40 to 45 commands the highest prices.
T&T s east coast wells generally produce a
"light sweet crude" (low sulphur content) with
an average API rating of 38 degrees.
Trinity acquired the Galeota licence after
its merger with Bayfield Energy Holdings in
early 2013. Last year March, Bayfield struck
oil with its first exploratory well, EG8, in the
same block. The production estimates for that
find were 32 million.
Galeota Licence provided for seven
exploratory wells. TGAL-1 was the third ven-
ture. The company s second exploration ven-
ture was unsuccessful.
Trinity s two out of three success already
surpasses the usual odds of one well in seven
The Trinity Group has a 65 per cent interest
in the Galeota Licence, with Petrotrin holding
the remaining 35 per cent.
With this discovery, Trinity said it will now
be assessing appraisal and development
options. Production on the well is expected
to begin by 2015.
The non-energy sector continued to expand
in the third quarter of 2013, but at a slower
pace than the previous two quarters.
According to the November 2013 Monetary
Policy Report, initial data indicate that the
non-energy sector rose by 1.9 per cent (year-
on-year) in the third quarter compared with
2.6 per cent in the second quarter and 3.6 per
cent in the first quarter.
Growth in the third quarter was largely asso-
ciated with finance (4.4 per cent), construction
(3.0 per cent) and distribution (1.1 per cent)
Heightened activity within finance was
partly attributable to strong performance
within the commercial bank sub-industry, as
banks recorded growth in loans and deposits
in the second quarter.
The report said the increase in construction
activity was likely related to several public
sector projects, including highway construction
and housing, and perhaps to a lesser extent,
some private sector developments. Local sales
of cement -- a key indicator of construction
sector activity -- was up on a year-on-year
basis by 12.5 per cent in the third quarter.
There were also positive indications of
growth in the distribution sector. For example,
sales of new motor vehicles increased by 13.1
per cent (year-on-year) in the third quarter
The agricultural sector also recorded some
The Central Bank said estimates from data
supplied by the National Agriculture and Devel-
opment Corporation indicate the agriculture
sector grew by 1.9 per cent in the third quarter
Supplementary information for the third
quarter of 2013, sourced from the Norris
Deonarine Northern Wholesale Market, showed
increased local volumes of selected commodi-
ties at the market. Comparatively better weath-
er conditions throughout the majority of 2013
and the continuation of targeted policies aided
strong growth for the period.
The Central Bank said after posting strong
growth of 4.6 per cent in the second quarter,
activity in the manufacturing sector was flat
in the third quarter of 2013.
JANUARY 2014 • WEEK ONE www.guardian.co.tt BUSINESS GUARDIAN
NEWS | BG7
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