Enill
hails gas discovery
Energy
Minister Conrad Enill
PORT
SPAIN
Petroleumworld.com, Jan 27, 2007
Petro-Canada yesterday announced a significant discovery of
natural gas from exploration of the Cassra-1 well in deepwater
Block 22 off Tobago.
Energy
Minister Conrad Enill yesterday noted the success of Petro-Canada’s
exploration efforts
“The find speaks for itself. In exploration activities
such as these there will be discoveries at times and other
times they may not be and there was success on this occasion,” said
Enill.
He reiterated that Government has launched an aggressive exploration
programme, particularly in deepwater fields.
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, Petro-Canada announced
in a release.
The energy company stated that the find was one result of
two international exploration wells, the other find was in
the United Kingdom sector of the North Sea.
Petro-Canada’s executive vice-president, international
and offshore, Peter Kallos stated in the release, “Our
drilling programme last year yielded several successes, with
these most recent discoveries among the more significant.”
According
to the release, “the well targeted the reservoir
objective at the edge of a large seismic anomaly covering 68km.”
“This is an exciting result for us, because it is the
first well in a four-well programme on Block 22,” said
Kallos.
“The
discovery validates our exploration model and further success
on the block could lead to a material development.”
Last Wednesday it was reported that the company made a discovery
in this particular block exploration well. It was unclear though
whether the gas was available in commercial quantities.
These blocks were awarded in a 2003 licensing round while
in 2005, Petro-Canada signed production sharing contracts for
three blocks (1a and 1b in the Gulf of Paria and Block 22 off
of Tobago).
The North Sea find, according to the release, has the capacity
to yield commercial flow rates. Two oil columns were discovered
totaling nearly 80 metres.
Petro-Canada holds a 50 percent interest in this well while
they hold a 90 percent share in deepwater Block 22.
Story from Newsday.
Thursday, January 24 2008
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