'Significant'
gas find off Tobago
Port Spain
Petroleumworldtt.com
01 27 08
Canadian
energy giant Petro-Canada yesterday confirmed it
had discovered natural gas 14 miles off Tobago's
northwest coast.
In a statement the company said the Cassra 1 well
in deepwater Block 22 was completed as a significant
natural gas discovery. It also reported on a discovery
in the North Sea.
Commenting
on the discoveries Peter Kallos, Executive Vice-President
of International and Offshore said: "Exploration
is a key part of our long-term growth strategy.
Our drilling programme last year yielded several
successes, with these most recent discoveries among
the more significant."
In Trinidad and Tobago, the Cassra-1 well in deepwater
Block 22 was completed as a significant natural
gas discovery. The Cassra -1 well targeted the
reservoir objective at the edge of a large seismic
anomaly covering 68 km2. The statement said Petro-Canada
operated the well and holds a 90 per cent interest
and based on well results and using local field
recovery factors, the discovery could have between
0.6 to 1.3 trillion cubic feet of contingent resources;
however, further appraisal activity is required
before finalising the estimates.
"This is an exciting result for us, because
it is the first well in a four-well program on
Block 22," said Kallos. "The discovery
validates our exploration model and further success
on the Block could lead to a material development."
Petro-Canada and its partners plan to conduct
appraisal activity on both the Trinidad and Tobago
and United Kingdom discoveries to fully assess
the resource base before considering development
options.
In Trinidad, Petro-Canada has net production of
65 million cubic feet per day through a 17.3 per
cent interest in the North Coast Marine Area gas
project, which supplies gas for the Atlantic LNG
project. The new Block 22 discovery has the potential
to materially contribute to Petro-Canada's future
production in Trinidad and Tobago. Petro-Canada
is currently carrying out a multi-well exploration
programme on Blocks 1a and 1b (Petro-Canada interest
of 80%) and Block 22 (Petro-Canada interest of
90%).
Petro-Canada is one of Canada's largest oil and
gas companies, operating in both the upstream and
the downstream sectors of the industry in Canada
and internationally.
Story
by Earl Manmohan Scarborough from Trinidad Express
Trinidad
Express
Thursday,
January 24th 2008
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