Young meets with Perenco execs

ENERGY Minister Stuart Young met on Wednesday with senior officials of energy exploration and extraction company Perenco Trinidad Ltd at ministry’s head office, International Waterfront Centre, Port of Spain.

A press release said Young was accompanied by his ministry’s two permanent secretaries Penelope Bradshaw-Niles and Sandra Fraser as they met with Perenco’s group director Eric d’Argentre, general manager Gregoire de Courcelles, and the company’s business advisor Allan Russell.

d’Argentre provided an update on Perenco’s global operations and then focused on the Teak, Samaan and Poui (TSP) fields offshore of the east coast of Trinidad and Tobago, where it has been modernising and electrifying its operations.

Perenco acquired ownership stake in TSP in 2016 by purchasing TSP assets from Repsol Exploration and Production TT.

Perenco is currently investing in a new export pipeline which it will be able to significantly maximise upon its planned field production outputs, as well as working on optimising gas recovery of the fields.

Young, a ministry release said, encouraged the company to continue its strategy of harnessing technology to optimise the reserves at (TSP) and to monetise the gas immediately.

The ministry’s Shallow Water Bid Round was also highlighted as an opportunity for the company to further invest in the local energy sector. Discussions also entailed future drilling and appraisal of Onyx.

d’Argentre reaffirmed Perenco’s commitment to Trinidad and Tobago and its continued investment in the country as they look to increase their oil and gas production.

Perenco is a leading international independent hydrocarbon company with operations in Brazil, West Africa, Mexico, The United Kingdom and Trinidad and Tobago.