Young gets update on Heritage's performance

ENERGY Minister Stuart Young received an update from Heritage Petroleum Company Ltd about the company's performance.

A statement issued by the Energy Ministry said Young was briefed by Heritage officials at the Red House on Wednesday. Young is taking part in a meeting of the Standing Finance Committee of the House of Representatives on the 2023/2024 budget.

Heritage chairman Michael Quamina, SC, provided an update on the company's performance since its new CEO Erik Keskula joined Heritage earlier this year.

Keskula gave an update on the results of the recent offshore drilling programmes which yielded the largest Heritage producing well to date and the company’s ongoing asset integrity efforts.

He also outlined plans for 2024 including drilling projections, joint ventures, lease operator programmes and high-grading.

Young reiterated Heritage's strategic importance to TT and the need to remain focused on ramping up production.

The ministry said it remained committed to working cohesively with all energy sector stakeholders to ensure that TT can leverage a competitive position globally.