Maroc - NEWSDAY.CO.TT - A la Une - 28/Mar 13:40

Young: Progress being made in energy

PRIME Minister Stuart Young says more progress has been made on other projects to boost the energy sector. Young, who is also Energy Minister, said contrary to claims from the Opposition and other critics, government has not placed all of its emphasis on cross-border energy agreements with Venezuela to boost the energy sector. After telling the media of successful talks with US Secretary of State Marco Rubio in Jamaica on March 26 which offered hope for the continuation of the Dragon gas project and other TT-Venezuela energy initiatives, Young spoke about energy sectors developments outside of that. He was pleased to report that bpTT had taken a final investment decison (FID) on the Ginger gas development project and discovered additional hydrocarbon reserves in its Frangipani well. Young was confident Ginger would be onstream by 2027. He said the exploration work at Frangpani, involved going into places already being exploited for natural gas and additional hydrocarbon reserves. Young added this was “the direct result of the work of us being engaged with BP and others over the last few years, in a way that promotes TT.” He reminded the media about previous government which took initiatives which did not develop the energy sector. “This government is working on your behalf. rest assured we will do all that is possible to ensure TT gets the best revenue possible for our resources.” Young said, “We have proved that we are getting higher revenues from our gas resources and we will work with all of the stakeholders to make these projects a reality.” [caption id="attachment_1146663" align="alignnone" width="1024"] LISTENING TO YOUNG: From left, Attorney General Camille Robinson-Regis, Finance Minister Vishnu Dhanpaul and Tourism Minister Randall Mitchell, at the post-Cabinet press briefing at Whitehall, Port of Spain on March 27. - Photo by Faith Ayoung[/caption] He also said work is continuing on the Calypso Project, located approximately 220 km off the coast of Trinidad in a water depth of 2100 m. The resource comprises several gas discoveries in Block 23(a) and Block TTDAA 14. Woodside Energy and BP have 70 and 30 per cent interests respectively in this project. Young was confident more could be reported on this project in the next few weeks. In a statement, bpTT said Ginger will become the company’s fourth subsea project and will include four subsea wells and sub sea trees tied back to its existing Mahogany B platform. First gas from the project is expected in 2027 and will make up one of the company’s ten major projects expected to start up between 2025 and 2027. At peak, the development is expected to have the capacity to produce average gas production of 62 thousand barrels of oil equivalent per day. Ginger is located approximately 50 miles off Trinidad’s southeast coast in water depths of less than 300 feet. The Ginger development, as well as bpTT’s Cypre gas project, scheduled to start up in 2025, are part of the company’s strategy of maximising production from existing acreage, developing capital-efficient projects that tie into existing infrastructure. The post Young: Progress being made in energy appeared first on Trinidad and Tobago Newsday.