Perenco finds gas in Onyx well

PERENCO TT Ltd has announced its finding of "significant columns" of natural gas in two separate geological compartments on the eastern part of the Onyx field, an undeveloped gas field off Trinidad’s south-eastern coast.

A media release from Perenco said the gas discovery was found at a depth of 180 feet, between the Poui and Teak fields.

The Teak, Poui and Samaan fields (TSP) are under licence by a joint venture between Perenco TT, Heritage Petroleum Co Ltd and NGC.

The release said Perenco is currently reviewing subsurface information.

Development options are expected to be evaluated to move the discovery toward a final investment decision, the release said.

General Manager Gregoire De Courcelles heralded the discovery as a major milestone in the company’s vision for TT.

"Our objective was to prove sufficient gas reserves to unlock field development," De Courcelles said. "The wells’ findings are testimony to the hydrocarbon potential which remains in the TSP acreage and highlights Perenco’s commitment to provide future supplies of natural gas to TT."

De Courcelles thanked partners Heritage Petroleum and NGC for their support in the project.

Perenco began producing hydrocarbons in TT in 2016 after it took over operations in the TSP fields.

In December 2024, Perenco expanded its operations in TT with the acquisition of Cashima, Amherstia, Flamboyant and Immortelle gas assets.

On March 28, the company signed an agreement to acquire the participating interests of Woodside Energy.

In a post on X, former prime minister and energy minister Stuart Young commended the company on its latest discovery.

"Well done, Perenco. Congratulations. This was another one we negotiated. Glad it came through. This is good for TT," he said.