Page 8 - LatAmOil Week 25 2022

LatAmOil TRINIDAD AND TOBAGO LatAmOil

He argued, though, that the prime minister had
not given any solid examples of new fields com-
ing on stream in the near term.
He did acknowledge Rowley’s reference to
the Manatee and Calypso projects but pointed
out that these fields were not likely to see first
gas before 2027 or 2028. Likewise, he took note
of BP’s plans for the Cassia C compression pro-
ject, which is due to be launched in late 2022,
but explained that this initiative was designed to
stabilise output rather than raise it. Under these
circumstances, yields are likely to keep drop-
ping in the five-year period between the end of
2022 and the start of the 2027-2028 period, since
there will be little in the way of new production
streams coming online, he said.
In concrete terms, Ramnarine continued,
Trinidad and Tobago has little hope of bringing Trinidad and Tobago extracted 73.06 mcm per day of gas in 2021 (Image: BHP)
gas output back into the range above 3 bcf (84.96
mcm) per day within the next few years. Yields 2 bcf (56.64 mcm) per day by 2026. This could
will remain stable at current levels in the best- have serious consequences for the petrochemi-
case scenario, he added, but could sink below cal plants at the Point Lisas complex that depend
2.5 bcf (70.8 mcm) per day or even approach on access to gas feedstock, he noted. ™

COLOMBIA
Petro’s election win could have major

impact on Colombia’s oil and gas sector

COLOMBIA’S oil and gas sector may be headed interview with Bloomberg, saying he hoped
for some major changes following Gustavo Pet- to transform Colombia into a country with a
ro’s victory in the run-off phase of the presiden- knowledge-based and tourism-fuelled econ-
tial election. omy. A key component of this shift would
Petro, a member of the Humane Colombia involve calling an immediate halt to all new oil
Party running as the candidate of the Historic and gas exploration, he said.
Pact alliance, has promised to phase out new In practice, the suspension of new explora-
hydrocarbon development projects and form tion campaigns will have the effect of making
a global coalition to fight climate change. In part of Colombia’s section of the Caribbean Sea
January, he outlined his policy agenda in an off-limits to international oil companies (IOCs).

Petro (R) and Vice President Francia Márquez Mina (L), shown on June 23 (Photo: Twitter/@FranciaMarquezM)

P8 www. NEWSBASE .com Week 25 23•June•2022