17	Joint Venture Exploration Update By ELLISTON WELSH

The period August 1991 to June 1992 witnessed the initiation of drilling activity in two offshore blocks, Block S-11 and The Lower Reverse L Shaped Block, as well as the commencement of negotiations on Exploration and Production Licenses for two offshore blocks, 89/2 and 89/3. Other exploration activities included a proposed joint venture between two foreign companies, one local company and the State, to explore the Caroni Basin. Trintoc, in 1992, put out a prospectus for their Block S-1 in the Gulf of Paria.


BLOCK S-11
Trintopec 30%, Mobil 70%, 184,685 acres, signed: September 1989
The 6 year exploration period is expected to require an expenditure of over TT$ 100 million, split between the two partners. The first well, Carambola #1 was spudded on December 14, 1991, by the H. Galloway, and was drilled to 14,831 feet MD (14,129 feet TVD) in 69 days. The planned TVD of 15,000 feet was not achieved because of drilling problems encountered. The well found minor hydrocarbon reserves and was Temporarily Plugged and Abandoned. The commencement of drilling on a second well has been held up because of the results of the first well.

LOWER REVERSE L SHAPED BLOCK
Trintoc 50%, Pecten 50%, 90,357 acres, signed: November 1989
The first well, Pamberi #1, was spudded on April 20, 1991, by the Chiles Wasp, and was drilled to 12,584 feet MD. It was plugged and Abandoned as a dry hole on August 12, 1991. This well also failed to reach the approved TD of 15,000 feet because of drilling problems.
Pecten and Trintoc have since indicated their intention to request relief from the drilling of the obligatory second well in this block. This request is now being studied by the Ministry of Energy and Energy-Based .

SOUTHERN BASIN CONSORTIUM
Exxon 20%, Chevron 14.5%, Total 14.5%, Trintoc/Trintopec 51%, 740,000 acres, signed: November 1989
The following results were achieved by the consortium:
1. Seismic: 1180 km of a 1260 km program has been completed to date. Production stopped on May 21, 1992 because of a strike, and, pending its resolution, the program was expected to be completed by the end of July.
2. Gravity: 940 km, completed.
3. Reprocessing: largely completed. Preliminary reports on the integrated study have been delivered to the state companies and to the Ministry. Drilling is not expected to commence before early 1993.

BLOCK 89/2
BHP 75%, State 25%, 237,000 acres.
Negotiations, started in August 1991, are proceeding slowly because of the change in .

Block 89/3
UNOCAL 70%, State 30%, 311,187 acres
As with Block 89/2, these negotiation are proceeding slowly. UNOCAL was expected in Trinidad in June to reopen the negotiations.

CARONI BASIN
The joint venture to explore the Caroni Basin, between Anderman Smith, Shell B.v., K. Persad and Associates and the State, is currently being finalizes. The terms and conditions and the split are to be put before Cabinet for approval.

BLOCK S-1, GULF OF PARIA
Trintoc has put out a farm out Prospectus for 40% of its rights in Block S-1. The Farm Out comprises 253,960 acres, in water depths of 100 feet. Proposals are invited from interested parties.

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