Trinity Exploration & Production has submitted the Field Development Plan (FDP) for the TGAL Area, located on the Galeota Block, offshore the East Coast of Trinidad to the Ministry of Energy and Energy Industries (MEEI).
This FDP is the first phase of a potential wider step-out development moving across the Galeota anticline to fully develop the reserves potential from the large volumes of oil in place (circa 700 mmbbls), the company informed.
The first phase currently contemplates the installation of a low cost 10 well conductor supported platform, the installation of a thermoplastic composite subsea export pipeline, the laying of a subsea power cable to provide offshore power and the drilling of horizontal production wells.
The Petroleum Company of Trinidad and Tobago Limited (Petrotrin) has a working interest of 35% and Trinity 65% in the proposed development.
Bruce Dingwall CBE, executive chairman of Trinity, said:
“The submission of the first phase FDP is a major milestone on the journey towards first oil from the TGAL area. Against the backdrop of falling black oil production in Trinidad, Trinity believes that this development would be a key enabler with respect to; direct and indirect local employment, to the generation of revenue and in the ultimate aim of maximizing reserves recovery for all stakeholders. Trinity is adopting best practice in the use of new technologies above and below the mud line which have enhanced the attractiveness of this development.
“Much work still has to be done with the supply chain, Petrotrin, the MEEI and the Ministry of Finance to ensure that this project generates an appropriate rate of return for all stakeholders and to enable this important project to get to FID in the envisaged timeframe.”
Final Investment Decision (FID) is being targeted for H1 2020, at which time the optimal mechanism for financing the development will have been determined and agreed between all stakeholders.