Trinity plans three-field gas development offshore Trinidad

Trinity has agreed to acquire Centrica’s 80% interests in blocks 1a and 1b offshore Trinidad’s west coast for $23 million.

Offshore staff

SAN FERNANDO, TrinidadTrinity has agreed to acquire Centrica’s 80% interests in blocks 1a and 1b offshore Trinidad’s west coast for $23 million.

The blocks include four gas discoveries with combined 2C resources of 268 bcf (7.6 bcm). The fields have been fully appraised but are undeveloped. Trinity is targeting a field development plan within the next 18 months, followed by first production in 2017-2018 for sale to the domestic gas market.

The concessions are in 20-35 m (65.6-115 ft) of water in the Gulf of Paria. Texaco discovered the Iguana field in 1982 and the acreage was subsequently licensed to Petro-Canada in 2005.

During 2007-08,Petro-Canada drilled the Zandolie West discovery on block 1a and Anole on block 1b, and successfully appraised Zandolie East. Subsequent drillstem tests in both the Iguana and Zandolie East wells indicated that production wells could flow more than 50 MMcf/d (1.4 MMcm/d).

In 2009 Suncor acquired Petro-Canada and later sold its Trinidad assets toCentrica.

Trinity says the previous owners and various contractors have performed substantial scoping work. Its current base development plan is for a dry tree solution with unmanned tripods connected to shore via a new subsea pipeline to Trinity’s onshore Brighton land base. This would host onshore compression and processing.

Total capex to first gas could be around $220 million. To mitigate the costs and subsurface risks, Iguana would be developed under Phase I followed by Zandolie and Anole under phases II and III.

07/18/2014

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