LONDON (Alliance News) - LGO Energy PLC on Wednesday said it has received final approval for the drilling pads at the Goudron field in Trinidad.
LGO said it has been granted approval for the construction of the pads by local authorities and will start work immediately. It expects the work to take several weeks.
The company said it has also received notification from the Petroleum Co of Trinidad and Tobago Ltd that it intends to upgrade the existing pipeline from the Goudron field in order to increase export capacity.
"Now that all the approvals have been granted for the 2015 Goudron drilling program to start, we can look forward to commencing the new season's drilling, which should see significant increases in the field's oil production," said LGO Chief Executive Neil Ritson.
Shares in LGO were trading up 2.5% at 3.12 pence on Wednesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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