 19 |
Joint Venture
Exploration Update
By ELLISTON WELSH
|
Block S-11
Mobil 70%, TRINTOPEC 30% - 184,685 acres, signed Sept.1989.
There has been no success in fmding a farm-in parmer for this block. In view of the imminent expiration
of the one year extension, granted by the Government on September 30, 1992, the parties will soon have to meet
to indicate their intentions.
SECC Block
TRINTOC, TRINTOPEC and National Gas Company
By the end of May 1993, Enron had completed the following:
1. Using Digican 2 vessels, 133,339 line km ofCMP 3D seismic data, including prime, infill, undershoot and
re-shoot, was acquired.
2. Two sets of hazard surveys and soil borings were carried out for platform location and pipeline laying purposes.
3. Enron set-up offices in Port of Spain, alter having been based temporarily at Trintomar in Pointe-a-Pierre.
In June, the following activities will take place:
1. The Kiskadee platform will be installed.
2. Pipeline laying will commence.
3. The Global Marine Adriatic IV will commence drilling the first well, in the Kiskadee Field.
Lower Reverse L Shaped Block
TRINTOC 50%, Pecten 50%- 90,357 acres, signed Nov.1989.
The Ministry of Energy and Energy-Based Industries and Pecten/TRINTOC are close to an agreement which will relieve
the companies of any further work obligations on this block. In exchange, Pecten may have to provide a fmancial
sefflement to the Government, which may include provision of an upgraded Landmark Workstation and software, for
the Ministry of Energy and Energy Industries.
Southern Basin Consortium
Exxon 20%, Chevron 14.5%, Total 14.5%, TRINTOC/TRINTOPEC 51%- 747,00 acres, signed Nov.1989.
The SBC, as required by their exploration and production licence, has submitted their first block relinquishment
to the Government. This comprises 25% of their original leased area. The first well should be spudded in
September/October 1993.
Block 89/2
BHP 100%? - 237,000 acres
The status of this Block is uncertain at this time because of reported organizational restructuring
taking place in BHP.
Block 89/3
Unocal 100% - 311,187 acres
Unocal commenced a 3D seismic and gravity survey of the lead areas in early March 1993, using GECO-PRAKLA
Longva, towing a dual source and triple streamers. A total of 16,323 line km of common mid-point data were acquired,
comprising 13,561 dual/triple and 2764 dual/dual. The latter conliguration was necessary because of the sea
floor topography. 3D aquisition was completed by May 5; a short 2D programme of 173 km was then completed. Activity
for the rest of 1993 will centre around the completion of processing and interpretation of the data.
Caroni Basin
Andermas/Smith 32.5%, Shell B.V. 32.5%, Krishna Persad & Assoc. 10%, GOTT 25%
The main activity in the last six months has been the change in the parties and the state's equity from25:25:9:41.
The next hurdle will be negotiating the Exploration and Production License.
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