(Alliance News) - Trinity Exploration & Production PLC on Monday said it has begun the environmental impact assessment for the Buenos Ayres block, onshore Trinidad.
Trinity Exploration is an independent exploration and production company focused on Trinidad & Tobago.
In June, Trinity Exploration said it had been awarded the Buenos Ayres oil block in the 2022 onshore & nearshore competitive bid round by the Trinidad & Tobago Ministry of Energy & Energy Industries.
On Monday, it said it has secured terms of reference for its proposed environmental impact assessment for the Buenos Ayres block, from the Environmental Management Authority of Trinidad.
It noted that a certificate of environmental clearance is a prerequisite for drilling activity and the environmental impact assessment is required for the certificate of environmental clearance.
"Buenos Ayres is a cornerstone of our revitalised onshore strategy focused on our broader Palo Seco operating interests. Our confidence in the Palo Seco play has increased with our progress on Jacobin thus far," said Chief Executive Jeremy Bridglalsingh.
"In June, we referenced our intention to rapidly exploit our competitive edge onshore Trinidad. Starting the acquisition of the Buenos Ayres EIA ahead of the formal award of the licence is evidence of Trinity's commitment to progress this strategic option with pace."
Shares in Trinity Exploration were down 2.9% to 83.00 pence each in London on Monday morning.
By Sophie Rose, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Trinity (TRIN)