Page 8 - LatAmOil Week 39 2022
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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
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