ENERGY Minister Stuart Young welcomed the progress being made by Touchstone Exploration Inc in its energy acreages in the Ortoire Block.
Young made his statements during a visit to the Ortoire Block on Tuesday.
A statement from the ministry said Young accompanied a contingent from Touchstone and the ministry in undertaking a seismic survey in the block. He visited the Royston 1 Well which is to be spudded later this month, as well as the Cascadura and Chinook discovery well sites.
Young also visited the COHO gas field, which is expected to produce approximately 10 mmscf/d of natural gas that will boost domestic gas supply to the National Gas Company from as early as August.
Young expressed his satisfaction in what he viewed on the tour.
"These are very exciting times with a lot of prospects and a lot of hope for success, especially on the gas side."
He promised the ministry will continue working with Touchstone.
"The company is a critical factor in us going forward and providing gas production and showing it can be done. We are looking forward to great things from you all, and we are hoping in the next 12-16 months production will start to flow.”
In a statement issued by Touchtone, its exploration manager, Xavier Moonan, said, “The Ortoire Block seismic survey is a key minimum work obligation and will be completed by July 31, 2021. This survey will tie perfectly into the drilling of Royston-1 exploration well."
He added, " The survey will further enhance the understanding of additional exploration prospects identified, for example, Steelhead & Kraken, and will guide these drills in the second phase of exploration on Ortoire Block.”
Touchstone Exploration CEO Paul Baay said in the last two years the company has successfully drilled four explorations wells to the Herrera sands in the Ortoire Block, and all were deemed discoveries.
“These are namely Coho-1, Cascadura- 1 ST1, Chinook-1 and Cascadura Deep-1.
"Touchstone has signed a key gas sales agreement with the NGC for the purchase of all gas produced from Ortoire Block. In the coming months Touchstone will bring online our first gas discovery – Coho – at approx 10mmscf/d.”
He said, “We are also working closely with stakeholders to complete the environmental impact assessment for the development of the Cascadura gas discoveries which can see a potential 200mmscf/d liquids rich gas added onto national production, and we are currently completing our testing at Chinook-1 and expect such gas production to be added via pipeline back to the Cascadura facility.”