Caribbean-focused exploration company Trinity today announced a new oil discovery offshore the east coast of Trinidad and Tobago.
The company confirmed it had found oil at the TGAL-1 exploration well within the Galeota licencse, which Trinity operates with a 65% interest.
The well was spudded on October 31 and original oil in place is estimated to be in the range of 50-115million barrels.
Trinity is now evaluating whether further appraisal of this discovery is required and will begin engineering studies soon to finalise a development concept to progress the project to field development plan.
“The TGAL-1 discovery is exciting news for all of Trinity’s stakeholders, and our team has done an excellent job in delivering this successful well safely,” said Trinity chief executive Monty Pemberton.
“Trinity’s industrial thesis has always been to pursue low risk opportunities in Trinidad and Tobago, which we believe is a prolific but under-exploited hydrocarbon province.
“This is the second successful exploration well Trinity has drilled on the Galeota license since 2002 – the first being EG-8 – and demonstrates the further resource potential of the block.”