This piece seeks to summarise the major happenings in the local sector for this past year.
October:
• The Ministry of Finance reported that taxes from the upstream for 2022 was estimated at 10.45 billion, while it was 3.1 billion in 2021.
• Touchstone begins production from Coho, the first onshore gas project in over 20 years. Gross production of 10.5 mmscf/d (net of 8.4) was announced. The gas is being delivered via a 2.7km 6in pipeline to the Baraka facility (operated by Shell) to NGC.
Touchstone Exploration Inc (LON:TXP) is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago.