The TB14 well was drilled on the northern part of the field, and is estimated to contain more than 40 MMbbl of in-place oil. During testing the well flowed 1,200 b/d.
A development could extend the field’s productive life.
Repsol operates with a 70% interest, in partnership with Petroleum Co. of Trinidad and Tobago (Petrotrin) and the National Gas Co. of Trinidad and Tobago (NGC), each holding a 15% stake.
The partners will continue drilling to add new resources and production to the block, which has been producing since the 1970s. They plan to complete two more wells this year.
In June they started up the TB13 well, adding 1,384 b/d to the field’s output. The new wells are expected to raise existing production by 24%. Last year production averaged 10,900 b/d.
Drilling has benefited from the government’s fiscal reforms designed to stimulate exploration and production in mature fields.