PORT OF SPAIN, Trinidad, CMC – The Vitality Chamber of Trinidad and Tobago has welcomed the choice by the UK-based Perenco to amass Woodside’s producing oil and fuel property in Trinidad & Tobago.
With their acquisition of bpTT’s Cashima, Amherstia, Flamboyant, and Immortelle (CAFI) fields earlier this 12 months, Perenco solidifies itself as a major oil and fuel producer in Trinidad and Tobago.
“Primarily based on first quarter 2025 manufacturing information, it’s estimated that Perenco will now be the second largest producer of oil and fuel by way of barrel of oil equivalence, second to bpTT, and is adopted by Shell and EOG Sources.”
The Vitality Chamber said that barrels of oil equal (boe) is a measure that mixes pure fuel manufacturing and crude oil manufacturing right into a single unit for ease of understanding.
“The equivalence refers back to the power content material, with on common 5,800 cubic ft of fuel producing the identical quantity of power as a barrel of crude oil (it is a normal estimate as a result of totally different grades of crude and various kinds of pure fuel can have totally different power values based mostly on their particular chemical composition). This power equivalence doesn’t take into consideration the truth that pure fuel is normally much less precious than crude oil for a similar power content material.”
The Vitality Chamber said that Perenco’s acquisition of Woodside’s property is important, on condition that Woodside produced over 300 million cubic ft per day (mmscf/d), which is roughly 12 p.c of Trinidad and Tobago’s whole pure fuel manufacturing, in addition to simply over 1,600 barrels of oil per day.
It said that with the addition of the Woodside manufacturing, Perenco will now account for 22 p.c of the oil and fuel produced in Trinidad and Tobago, leapfrogging each EOG Sources and Shell.
The Vitality Chamber said that Gregoire de Courcelles, the final supervisor of Perenco Trinidad and Tobago, had beforehand defined that Perenco’s experience lies in growing mature and marginal oil and fuel fields to optimize useful resource restoration and lengthen the financial lifespan. Given the age of lots of Trinidad & Tobago’s oil and fuel fields, there’s an apparent match with Perenco’s strengths.
“Nevertheless, the corporate isn’t just involved in producing from present property. In 2024, they introduced the profitable drilling of the Onyx nicely and sidetrack within the jap a part of the undeveloped Onyx area. The 2 legs encountered important columns of pure fuel in two separate geological compartments.
“The Onyx area is an undeveloped fuel discovery positioned inside the TSP license, in a water depth of 180 ft, between the Poui and Teak fields, off Trinidad’s south-east coast. TSP is a three way partnership between Perenco T&T Restricted, the Operator, Heritage Petroleum Firm Restricted, and The Nationwide Gasoline Firm of Trinidad and Tobago Restricted.
“It will add new manufacturing to Perenco’s portfolio if they will take a closing funding resolution and transfer to develop the sector,” the Vitality Chamber added.
