Trinidad and Tobago has new cause for optimism in its gas supply outlook. NGC signed a Framework Agreement with Primera Oil and Gas Limited—a wholly owned subsidiary of Touchstone Exploration Inc. (Touchstone)—and Heritage Petroleum Company Limited (Heritage), to develop plans and foster a strategic partnership with respect to the development, sale and purchase of natural gas and natural gas liquids produced from the Ortoire Block, onshore South East Trinidad.
Heritage and Touchstone are Joint Venture partners in the Ortoire Onshore Block and have made gas discoveries in two wells, Coho and Cascadura. The Coho-1 well is a natural gas discovery, and initial production rates are expected to be 10-12 MMscf/d. Work is progressing to bring this well on stream in the third quarter of 2020. Meanwhile, initial flowback testing on the Cascadura-1ST1 well has confirmed the well to be a significant liquids-rich gas discovery. Exploration work continues with a further two prospects still to be drilled.
Touchstone Exploration Inc (LON:TXP) is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago.
