Page 8 - LatAmOil Week 39 2022

LatAmOil TRINIDAD & TOBAGO LatAmOil

Cypre will be linked to the existing Juniper platform via subsea tie-ins (Image: BP)

“NGC has stayed the course, and it cannot be move forward with the development of Cypre,
overemphasised how significant it is that we an offshore gas field that is about 78 km to the
have negotiated and secured a future supply of south-east of the island of Trinidad.
gas from bpTT in advance of the expiry of the Cypre lies within the Mayaro block in
current arrangements,” he stated. 80-metre-deep water, it said. The field will be the
Young also stressed the importance of the company’s third subsea development in Trini-
government’s involvement in the development dad and Tobago’s offshore zone, it added.
of the country’s hydrocarbon resources, stating bpTT went on to say that it expected to start
that Port of Spain would continue to collaborate development drilling at the field in 2023 and
closely with all stakeholders in order to ensure would reach the stage of first gas in 2025. The
the prosperity and sustainability of the local company intends to sink seven production wells
energy sector, which remains the backbone of and subsea trees at Cypre and link them to exist-
the Caribbean nation’s economy. ing production infrastructure at the Juniper field
via tie-ins. These wells will eventually yield 250-
Cypre upstream project 300mn cubic feet (7.1-8.5mn cubic metres) per
In related news, bpTT disclosed separately on day of gas, and bpTT will use these volumes to
September 23 that it had secured approval from meet its existing supply commitments to Trini-
the government of Trinidad and Tobago to dad and Tobago.. ™

COLOMBIA
Ecopetrol head says Asia is absorbing

lower share of Colombia’s oil exports

COLOMBIA’S national oil company (Ecopet- 40-50% because of stiffer competition from sell-
rol) is sending a smaller share of its oil exports to ers of Russian, Venezuelan, Mexican and Cana-
Asia this year, as competition for Asian market dian Heavy grades of crude, he said.
share has ramped up in recent months, accord- He noted, though, that the Colombian
ing to Felipe Bayon, the firm’s CEO. NOC was exporting more oil to Europe this
Bayon told Reuters on the sidelines of the year. European demand for Colombian crude
Asia Pacific Petroleum Conference (APPEC) has been stronger lately because of the need to
2022 in Singapore at the weekend that Asia had replace Russian supplies, he explained.
absorbed about 60% of Ecopetrol’s exports in The CEO did not say whether he expected
2021. This year, though, the figure is down to these trends to persist over time.

P8 www. NEWSBASE .com Week 39 28•September•2022