Petrotrin a top contributor to crude oil production
Despite current challenges in the energy sector, Petrotrin continues to be a key contributor to crude oil production, accounting for 57 percent of the country’s national production.
The observation was made in the company’s overview of its performance for the past fiscal year.
Production over the year was, however, impacted by falling oil prices and total equity oil and gas production for the year averaged 65,322 boepd.
Crude oil production on land averaged 12,374 barrels per day while Trinmar recorded an average crude production of 20,947 barrels of oil per day.
Key activities during the period, including drilling and completion of 18 wells in its own operations on land. Nine wells were completed via primary drilling while the remaining nine were enhanced oil recovery (EOR) projects.
The company also continued the final processing of the 540km² of full fold Ocean Bottom Cable 3D Seismic in Trinmar acquired in 2014. Drilling and reactivation activities and the requisite upgrade and installation of facilities and infrastructure also continued in South West Soldado.
The successes were noted at Petrotrin’s Exploration and Production (E&P) Technical Meeting with the Ministry of Energy and Energy Industries at Pointe-a-Pierre earlier this month.
Petrotrin officials provided an account of its exploration and production activities during the 2016 fiscal period and put forward plans for the 2016/2017 year.
A similar presentation is scheduled to be hosted for its Refining and Marketing operations later this month.
Future plans include ther continued implementation and development of an Asset Integrity Programme in all E&P operations in conformance with international standards (including abandonments); drilling and work over projects both onshore and offshore; the implementation of two new steam-flood projects in Forest Reserve and the continued implementation of the South West Soldado Project.
The company said that in spite of its challenges, its commitment to build a sustainable business and return value to its stakeholders remains unwavering.