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NGC, BHP deliver good news amid economic gloom
3 hrs ago
The National Gas Company (NGC) says that Trinidad and Tobago can expect to see a healthy boost in its supply of both crude oil and natural gas as the Block 3(a) Ruby development project begins production ahead of schedule.
The Operator, Australian-based BHP, announced first oil from the development on Tuesday and first gas is expected to occur shortly thereafter, the NGC said in a statement today.
Ruby is located offshore Trinidad and Tobago in the shallow water in Block 3(a) within the Greater Angostura Field.
The development consists of both oil and gas production from the Ruby and Delaware reservoirs via five production wells and one gas injector well tied back into existing operated processing facilities.
On completion of all development activities later this year, the Ruby field is expected to produce up to 16,000 gross barrels of oil per day and 80 million gross standard cubic feet of natural gas per day.
The Ruby development is located in Block 3(a) immediately east of the Greater Angostura Field. Through subsidiary NGC E&P (Netherlands) B.V., The National Gas Company of Trinidad and Tobago Limited (NGC) is a joint venture (JV) partner in the Ruby Project with operator BHP.
In July 2020, NGC and BHP signed a Gas Sales Contract (“GSC”) for the sale of 100% of the gas produced from the Ruby field to add to NGC’s existing portfolio of natural gas supply.
NGC as a joint venture partner is also entitled to a share of the field’s oil production which will be marketed as part of NGC’s Energy Marketing and Trading portfolio, providing valuable supplemental income to the Company.
For NGC President Mark Loquan, said: “NGC has been working closely and conscientiously with upstream operators, both as a value chain stakeholder and Joint Venture partner in several developments, to advance work programmes and bring more gas into the pipeline. It is extremely heartening to see that work bearing fruit. The announcement of first oil from Ruby signals important progress on an important project. We look forward to more positive news from the field and expect associated gas production to give an appreciable boost to our supply over the coming months. This is welcome news for our downstream sector, for our Company, and for the country as a whole.”
Joint venture
In a statement on Tuesday, BHP President Petroleum, Geraldine Slattery said: “The start-up of Ruby represents continued development of BHP’s oil and gas production facilities in Trinidad and Tobago, re-enforces the quality of the resource and its investment competitiveness. An Ocean Bottom Node (OBN) seismic survey acquired by BHP and the Block 3(a) partners in 2018, was utilized to illuminate and optimally position the Ruby Project development wells. This marks a significant milestone for our Petroleum business and our future in Trinidad and Tobago.”
BHP Country Manager of Trinidad and Tobago, Michael Stone said: “Achieving first oil safely and ahead of schedule reflects the true tenacity of the Ruby project team together with our industry and Government partners who persevered to deliver this project amid a global pandemic. This important milestone also highlights BHP’s continued commitment to doing business in Trinidad and Tobago as we celebrate 25 years of operations here this year.”
Drilling and completions activities at Ruby are ongoing, with subsequent wells to be placed into production in the second and third quarter of 2021 and project completion expected in the third quarter of 2021.
The Ruby development is a joint venture between BHP (operator; 68.46 per cent interest) and The National Gas Company of Trinidad and Tobago Limited (31.54 per cent interest).
https://trinidadexpress.com/newsextra/n ... a4483.html?
That's not a red government achievement.Habit7 wrote:NGC, BHP deliver good news amid economic gloom
3 hrs ago
The National Gas Company (NGC) says that Trinidad and Tobago can expect to see a healthy boost in its supply of both crude oil and natural gas as the Block 3(a) Ruby development project begins production ahead of schedule.
The Operator, Australian-based BHP, announced first oil from the development on Tuesday and first gas is expected to occur shortly thereafter, the NGC said in a statement today.
Ruby is located offshore Trinidad and Tobago in the shallow water in Block 3(a) within the Greater Angostura Field.
The development consists of both oil and gas production from the Ruby and Delaware reservoirs via five production wells and one gas injector well tied back into existing operated processing facilities.
On completion of all development activities later this year, the Ruby field is expected to produce up to 16,000 gross barrels of oil per day and 80 million gross standard cubic feet of natural gas per day.
The Ruby development is located in Block 3(a) immediately east of the Greater Angostura Field. Through subsidiary NGC E&P (Netherlands) B.V., The National Gas Company of Trinidad and Tobago Limited (NGC) is a joint venture (JV) partner in the Ruby Project with operator BHP.
In July 2020, NGC and BHP signed a Gas Sales Contract (“GSC”) for the sale of 100% of the gas produced from the Ruby field to add to NGC’s existing portfolio of natural gas supply.
NGC as a joint venture partner is also entitled to a share of the field’s oil production which will be marketed as part of NGC’s Energy Marketing and Trading portfolio, providing valuable supplemental income to the Company.
For NGC President Mark Loquan, said: “NGC has been working closely and conscientiously with upstream operators, both as a value chain stakeholder and Joint Venture partner in several developments, to advance work programmes and bring more gas into the pipeline. It is extremely heartening to see that work bearing fruit. The announcement of first oil from Ruby signals important progress on an important project. We look forward to more positive news from the field and expect associated gas production to give an appreciable boost to our supply over the coming months. This is welcome news for our downstream sector, for our Company, and for the country as a whole.”
Joint venture
In a statement on Tuesday, BHP President Petroleum, Geraldine Slattery said: “The start-up of Ruby represents continued development of BHP’s oil and gas production facilities in Trinidad and Tobago, re-enforces the quality of the resource and its investment competitiveness. An Ocean Bottom Node (OBN) seismic survey acquired by BHP and the Block 3(a) partners in 2018, was utilized to illuminate and optimally position the Ruby Project development wells. This marks a significant milestone for our Petroleum business and our future in Trinidad and Tobago.”
BHP Country Manager of Trinidad and Tobago, Michael Stone said: “Achieving first oil safely and ahead of schedule reflects the true tenacity of the Ruby project team together with our industry and Government partners who persevered to deliver this project amid a global pandemic. This important milestone also highlights BHP’s continued commitment to doing business in Trinidad and Tobago as we celebrate 25 years of operations here this year.”
Drilling and completions activities at Ruby are ongoing, with subsequent wells to be placed into production in the second and third quarter of 2021 and project completion expected in the third quarter of 2021.
The Ruby development is a joint venture between BHP (operator; 68.46 per cent interest) and The National Gas Company of Trinidad and Tobago Limited (31.54 per cent interest).
https://trinidadexpress.com/newsextra/n ... a4483.html?
sMASH wrote:lets wait to confirm... but if it eh ha no gyas,,, it eh ha no gyas... how de 4q u expect to run the plant if all the other plants using all d gyas....
Redman wrote:De Dragon wrote:Redman wrote:De Dragon wrote:Redman wrote:Nice to see that you started reading..but you need to do more.
The real issue is the transfer pricing and the rules that enable BP and Shell to avoid sharing revenue based on related parties sales etc.
This is you below.
Also splits are still going to be based on shareholdings, so a unitary position would only get us the gas to run Train 1, [b]not "increase our take" The GORTT of T&T has historically placed us in the bottom feeder positions of any industries that have come here.[/b]
Our shareholding is not going to get us more revenue/increase our take if there is:
1) No gas for Train 1, yet to be addressed
2) Train 1 runs at lower capacity, which is also yet to be addressed.
3) A $300M albatross of a fully funded TAR around our necks.
Keep trying though, the deeper you go, the more amused I get, especially when you're trying to be condescending but talking stuff that belongs in a septic tank.
You asked.me to show you where you made the stupid shareholding point...I did...yuh still vex.
I see you move the goalposts on that one.Normel.
Articles and Poten and Farrel detail why and how thing are and a structured way forward....that the GORTT seems to be following...you eh studying that, PNM don't follow reports....like the WFO you gloss over the summary without going any further.
Trains 2,3 and 4 come off contract in the next few years starting next year...all of the commercial structures being renegotiated....you still sure that it wrong.
But having train 1 run up and running while the others come off and gas frees up for renegotiation certainly is still a bad thing in your mind having already decided the TAR should wait until you ready.
You have zero knowledge about the return of the 300M...what it brings us back in return for making the commitment..yet it's an albatross....theonly certainty here is that you remain ignorant of the details to make a real judgement on the prudence and benefits of the 300M.
The simple fact that BP and Shell stated recently that gas supplies will improve 2022 ish means that things can and probably will improve gas wise...
All of this has to be taken in the context of an entire restructuring of the way TnT monetizes it's NG resources..is there risk?...of course...but that's the nature of it.We feeling the hurt from previous admins doing nothing.
BP/Shell have committed to this process...the GORTT is involved since 2015.....unlike your party who just saw money and spent it despite having knowledge of the issues.
And you still blathering.
Chupidee, at the rate which companies are packing up and leaving, there will be no one to sell it to
All that drivel you typed there and you're still just defending arseness. You have NO idea how the PNM royally facked up the nat gas industry in T&T for everyone EXCEPT BP/Shell.
Where are the companies rushing to sign up after their contracts expire? Leaving!
the companies have plants all over the world and shift operations tactically and strategically.
Methanex shuts in plants and restarts based on as do all the multinational players that are here.
So enough with the melodramatic noise.
The company also made it clear that there would be no gas for Atlantic’s Train 1.
“In terms of gas supply, following the disappointing results from our 2019 infill drilling programme we have since refocused our production operations on maximising production from our existing fields in the short-term, actively taking measures to offset natural declines. Even though these factors helped production at the beginning of 2020, natural declines continue to be a challenge as we manage our gas deliverability for 2021.
“While we continue to progress our Matapal and Cassia C projects, the volumes from these developments will be put towards fulfilling our existing contractual obligations for Trains 2, 3, 4 and NGC,” it said.
sMASH wrote:the 90% shareholders wanted to mothball the plant and not even do the TAR till there was more nearer to gas being available. its rowley say he dont want to keep the pant down and decided to raid NGC to fund the WHOLEEE tar, when u only have 10% shares.
they did the tar and it still dont have gas to run, but paying all the salaries to keep people on site, cause it not mothballed.
if u dont have gas, u dont have gas. leff it down, minimize costs till u get gas to run it up. at that time u call back ur people
thats how its done. a plant doesnt run on political will/bullying/grandstanding. it runs on gas. u have none from last year for a couple years.
De Dragon wrote:sMASH wrote:the 90% shareholders wanted to mothball the plant and not even do the TAR till there was more nearer to gas being available. its rowley say he dont want to keep the pant down and decided to raid NGC to fund the WHOLEEE tar, when u only have 10% shares.
they did the tar and it still dont have gas to run, but paying all the salaries to keep people on site, cause it not mothballed.
if u dont have gas, u dont have gas. leff it down, minimize costs till u get gas to run it up. at that time u call back ur people
thats how its done. a plant doesnt run on political will/bullying/grandstanding. it runs on gas. u have none from last year for a couple years.
Ollour forget Red Colostomy Bag and Tuntsy was Ops Managers or wha'?
zoom rader wrote:De Dragon wrote:sMASH wrote:the 90% shareholders wanted to mothball the plant and not even do the TAR till there was more nearer to gas being available. its rowley say he dont want to keep the pant down and decided to raid NGC to fund the WHOLEEE tar, when u only have 10% shares.
they did the tar and it still dont have gas to run, but paying all the salaries to keep people on site, cause it not mothballed.
if u dont have gas, u dont have gas. leff it down, minimize costs till u get gas to run it up. at that time u call back ur people
thats how its done. a plant doesnt run on political will/bullying/grandstanding. it runs on gas. u have none from last year for a couple years.
Ollour forget Red Colostomy Bag and Tuntsy was Ops Managers or wha'?
Those two clowns have never worked in Industry , all they do is sit and pull outdated obscure articles and try to present that as facts
sMASH wrote:small pin trying to find the funds to keep the plant with a budget UNTILLL it get gas available.
strange hill to die on, but is money that could be used else where better.
Red government running a parlourDe Dragon wrote:sMASH wrote:small pin trying to find the funds to keep the plant with a budget UNTILLL it get gas available.
strange hill to die on, but is money that could be used else where better.
Dotish LFD RFD PNM kants and their kant supporters like Tuntsy and Colos will defend this wholeheartedly, heck, Colos already said $300M is "small ting" in exchange for the supposed billions that I guess we will get from liquefying air in lieu of gas
zoom rader wrote:Red government running a parlourDe Dragon wrote:sMASH wrote:small pin trying to find the funds to keep the plant with a budget UNTILLL it get gas available.
strange hill to die on, but is money that could be used else where better.
Dotish LFD RFD PNM kants and their kant supporters like Tuntsy and Colos will defend this wholeheartedly, heck, Colos already said $300M is "small ting" in exchange for the supposed billions that I guess we will get from liquefying air in lieu of gas
De Dragon wrote:sMASH wrote:small pin trying to find the funds to keep the plant with a budget UNTILLL it get gas available.
strange hill to die on, but is money that could be used else where better.
Dotish LFD RFD PNM kants and their kant supporters like Tuntsy and Colos will defend this wholeheartedly, heck, Colos already said $300M is "small ting" in exchange for the supposed billions that I guess we will get from liquefying air in lieu of gas
Redman wrote:De Dragon wrote:sMASH wrote:small pin trying to find the funds to keep the plant with a budget UNTILLL it get gas available.
strange hill to die on, but is money that could be used else where better.
Dotish LFD RFD PNM kants and their kant supporters like Tuntsy and Colos will defend this wholeheartedly, heck, Colos already said $300M is "small ting" in exchange for the supposed billions that I guess we will get from liquefying air in lieu of gas
What I actually said is posted above by Smash.
If your recall was half as accurate as your spelling,your opinion might be worth taking seriously,but it just remains self promotional blather.
Blather on king,blather on.
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