Norway: Five new years with drilling and wells rig alliances Aker BP has entered into drilling and wells alliance agreements with Noble Corporation, Odfjell Drilling and Halliburton. Through the last five years, the jack-up rig alliance and the semi rig alliance have delivered over 100 wells and world-class drilling operations on the Norwegian shelf. Now the alliance partners up to deliver even more wells in the coming five years. The jack-up alliance comprises Noble, Halliburton and Aker BP. The semi alliance comprises Odfjell Drilling, Halliburton and Aker BP. On 11 January, Aker BP signed new agreements for both alliances with a five-year contract term.
The non-energy fiscal balance of Trinidad and Tobago is a cause for great concern to me. Specifically, the non-energy fiscal balance has deteriorated from TT$-3.74 billion in FY 2002 to an expected non-energy fiscal deficit of approximately TT$-25 billion in fiscal year 2022/23. In recent times, in order to run these huge non-energy fiscal deficits the government of TT have been spending out the revenues it receives from the energy sector in order to create some kind of equilibrium in the overall fiscal deficit. This mode of economic governance is certainly unsustainable, and I urge the government of Trinidad and Tobago to work hard in the corridors of fiscal space to increase non-energy fiscal revenues and to reduce overall total expenditures.
The European Union faces a potential shortfall of almost 30 billion cubic metres of natural gas in 2023—but this gap can be closed and the risk of shortages avoided through stronger efforts to improve energy efficiency, deploy renewables, install heat pumps, promote energy savings and increase gas supplies, the IEA says in a new report
Conversations about the future of energy invariably evolve into conversations about climate action and adaptation.
The Ministry of Energy and Business of the Government of Barbados announced the postponement of the Barbados 2022 Offshore Licensing Round. The bid round was originally scheduled to commence on December 1, 2022.
Speaking at the Goldman Sachs, Global Energy and Clean Technology Conference, CEO of Hess Corporation John Hess stated that the official figure for crude oil production from Guyana is estimated to reach 1.2 million barrels per day by 2027, an upward estimate from the previously reported 850,000 barrels per day.
The Chairman of Heritage Petroleum Company Limited (Heritage) Michael Quamina, Deputy Chairman Reynold Ajodhasingh and the Executive Leadership of Heritage met with the Honourable Stuart Young, Minister of Energy and Energy Industries, and the Permanent Secretary in the Ministry of Energy and Energy Industries Penelope Bradshaw-Niles, at the Heritage Corporate Office, Port of Spain, to present the company’s 2022 results and 2023 plans and strategy.
Subsea 7 has announced the award of a contract to Subsea Integration Alliance to support the development of bp’s Cypre project, a gas development located offshore Trinidad and Tobago. Subsea 7’s scope of the awarded Subsea Integration Alliance contract is substantial.
International energy logistics provider Peterson has announced it has been awarded carbon neutral status across global operations under the PAS 2060 accreditation scheme from National Quality Assurance certification body.
In May 2022, the Energy Chamber officially launched a six-point plan to secure new natural gas supplies and maximise exports from Trinidad and Tobago
31st January 2023 – Port-of-Spain: Secondary School students want child-friendly energy education, clean energy solutions, and greater environmental responsibility for a better quality of life in Trinidad and Tobago. This summarises the views of one hundred and thirty (130) secondary school students attending the Heroes of Energy Youth Forum at the 2023 Trinidad and Tobago Energy Conference.
Touchstone Exploration has announced that its indirect wholly owned Trinidadian subsidiary, Primera Oil and Gas Limited, has entered into an Asset Exchange Agreement for the exchange of certain onshore Trinidad assets with Lease Operators Limited, a privately held Trinidadian entity.
While the Trinidad and Tobago onshore province represents very mature acreage, the recent exploration success of Touchstone shows that it is still possible to make new finds and develop new fields in this mature setting. Onshore production in mature provinces will typically attract attention from smaller producers, rather than major oil and gas companies, which was the case in this bid round.
Touchstone Exploration has announced that it has commenced operations at the Royston-1X sidetrack well located on the onshore Ortoire block in the Republic of Trinidad and Tobago. Touchstone has an 80 percent operating working interest in the well, with Heritage Petroleum Company Limited holding the remaining 20 percent working interest.
It is my pleasure to be here with you all today at this the 2023 Energy Conference staged by the Energy Chamber of Trinidad and Tobago. The theme of this year’s Conference “Navigating a Complex Energy Future” is highly relevant as the global energy market is at a critical point and hydrocarbon countries like ours, and our neighbours Guyana and Suriname, must ensure that we are part of the conversations taking place.
Good morning everyone! It gives me great pleasure to welcome you to the Energy Conference and to deliver my first public address as Chair of the Energy Chamber of Trinidad & Tobago. I am honoured that my fellow Board members have elected me to this role in the Chamber, which represents such a critical part of our national economy. And of course, my appreciation to all members of the Chamber for your wider support.
The recent news of of a renewed dialogue between government and opposition in Venezuela and the changing diplomatic stance of the United States towards sanctions opens up a renewed possibility for Trinidad & Tobago to import natural gas via pipeline from Venezuela. With a significant potential to process natural gas exported by pipeline into either LNG or petrochemicals for international markets, Trinidad & Tobago represents the best opportunity for Venezuela to monetise its massive offshore gas reserves and stop harmful and wasteful flaring of associated gas in its oilfields. This will ensure that Venezuela can both generate the income needed to overcome the country’s continuing humanitarian crisis as well as provide the world with additional LNG, fertilisers and lower carbon fuels.
The Energy Chamber of Trinidad & Tobago was encouraged by the positive response to the onshore bid round. Eight of the eleven blocks on offer received at least one bid, with a total of sixteen bids from eight different companies. While the Trinidad & Tobago onshore province represent very mature acreage, the recent exploration success of Touchstone shows that it is still possible to make new finds and develop new fields in this mature setting. Onshore production in mature provinces will typically attract attention from smaller producers, rather than major oil and gas companies, and this was the case in this bid round.
The electric vehicle (EV) sector will receive a boost next year, as energy company Jamaica Public Service Co. (JPS) prepares to roll out an additional ten new charging stations for EVs island-wide, over the course of 2023. This initiative will help Jamaica to keep pace with global trends in EV adoption. The announcement of the new charging stations was made by Business Development Director at JPS, Dionne Nugent, while speaking at the Ministry of Science, Energy and Technology’s webinar on EVs entitled “Framework for Electric Mobility and Plans for the Charging Networks”.
