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Hi Auc1,
Yes definitely, we have the luxury of being able to cherry pick the projects which may suit our model due to the current finite amount of CO2 currently available.
I do think we will want to press on with the Innis Trinity field as we have de risked that particular area of Trinidad and we have only recovered oil from one sand of five in the AT4 block and the current targeted sand was thought to be the most difficult to recover from and to pass on the potential recovery of @6.8m barrels of oil may be too much for Heritage to stomach.
Heritage are flush with cash now £1.4B profit on last accounts of which £800m went to the treasury, not a bad turn around in two years since Petrotrin were dismantled.
Heritage may have said to BPC up yr. game or else !!
I know, pure speculation but they do hold all the licenses and as was pointed out earlier the IPSC contract will be due for renewal later on this year.
On a slightly different note, I think we are going to hear Big news on a some sort of venture with Trinity Exploration, whatever it may be, how it will be structured, will we part with some of our Intellectual property as part of the deal ?,
Who Knows, but I do know that Trinity have had six months now to paw over the 2 & 3D seismic released to them via Heritage, which incidentally has always been a closely guarded secret and with the help from UWI, ourselves, and others, should by now know how the reservoir's will react to CO2 sequestration.
Trinity's latest rns was very downbeat, considering with what they have got planned in the near future, my take on it was, nothing to see here, move along.
https://www.lse.co.uk/rns/TRIN/q1-2021-operational-update-0vu1bd4cbqozc6d.html
Rns on the release of the Seismic.
https://www.lse.co.uk/rns/TRIN/acquisition-of-onshore-3d-2d-seismic-data-set-706uvvh3s65ssc9.html
There is something else that maybe coinciding with this, but I'm going to keep that one under wraps for the time being and see how it plays out.
AIMHO of course.
GLA
Wacky
Hi wacky - maybe best to see what PRD have to say. As PG says: “ you can’t do C02 EOR without C02....and we have the C02”. PRD able to pick n choose should that factor persist
Hi MEM,
Very well put.
PRD looking well positioned...
MEM - PG did say in recent interview that no need to look outside of TT at this stage, plenty to go at WITHIN TT. That was the clear message.
Good day everyone.
I have to admit I think I have been wrong re my CCS EOR ambitions for PRD. I WAS of the opinion that PG might take the entire EOR plans outside T&T to a much wider audience, but I now think GRH and others are correct, PG will primarily focus our EOR plans within Trinidad.
Why have I changed my opinion ?
The sheer opportunity presented to us on Trinidad, our proven technology, our contacts both within the industry and T&T Government. If you consider the oil fields, some dating back to the 1920’s, look at Forest, Guapo, Point Fortin and many others, combined with CO2 availability through Massey and others, combined with the T&T Govt legal position re Paris Accord, T&T are massive polluters, they need to move quickly to get back on track to reduce their Carbon emissions, hence the new committee.
Now consider PG’s close links to the T&T Government, the Legacy fields low RF, what we can offer, a combination of increasing oil production, within current oil fields, very little expensive drilling, combined with CCS. Also now consider the Billion+ Bbc’s of oil just waiting for CCS EOR, at very low cost.
All of the above positions PRD front and centre.
The CCS EOR Project will grow and grow, many decades of CCS EOR work will be available, maximize the value for PRD.
There is simply no requirement to look further afield. KISS.
Hi Auc1
This paragraph taken from BPC rns today mentions just that.
Projects undertaken include both wellbore damage clean outs and addition of new oil zones. An additional 10 workover projects are planned for Q2 2021 on the Goudron and Inniss-Trinity fields that will primarily access zones that have previously not been adequately produced through recompletions and additional perforations. Further similar projects will be shortlisted and scheduled for execution throughout the remainder of 2021.
The Company has recently undertaken full-field asset reference plans for each of the operating fields, that has revealed potential unswept or compartmentalised oil that may be recovered through either further workovers or infield drilling, and accordingly plans are being put in place to capture that oil in order to enhance and grow production.
"Unswept" read CO2 injection.
couple of clues.
AIMHO of course.
GLA
Wacky
RNS 12 March 2021...
-- develop a new CO2 EOR Project in a different onshore oil field in Trinidad;
Also...
-- evaluate the expansion of the current Inniss-Trinity CO2 EOR project to include other areas of the field.
Seems reasonable to expect an update soon