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Venezuela and Trinidad to advance in border reserves unitization
By Elio Ohep
Petroleumworld
CARACAS
Petroleumworld.com 03 28 06
ChevronTexaco's confirmation last year that has encountered significant amounts of natural gas its offshore in Manatee area of Trinidad Block 6d and its Venezuelan Deltana block 2 Loran field in the other side of the boundary, has push Venezuela and Trinidad to continue talks for the unitization of natural gas reserves within the two countries' maritime border."The unification committee has agreed on a preliminary structure and some
general provisions that will serve as a base for the elaboration of the Treaty
to be signed by both governments once all necessary formalities are
fulfilled," Rafael Ramirez Venezuelan ministry of Energy said in a statement over the weekend.Chevron's CEO, David O'Reilly, visit to the two countries last month pushed for advances on the unitization talks.
ChevronTexaco operates the well of the Trinidad side on behalf of its partnership with BG Group, and each holds a 50 percent interest in the block, while in the venezuelan side, it has 100% of the block.
Ali Moshiri, president of ChevronTexaco Latin America Upstream, said last year : "With our geologic model confirmed by the successful drilling of the Manatee 1 well, we are now positioned in both Trinidad and Tobago as well as Venezuela to take the Manatee and Loran cross-border resource to the next evaluation phase. This well should also greatly assist the two energy ministries as both countries continue pursuing unitization."
ChevronTexaco last year finish the drilling of three exploration wells (Loran 2X, 3X and 4X) across the border of Trinidad in Venezuela’s Plataforma Deltana Block 2 on trend with the Manatee 1 well in Block 6d. The well appears to extend the six shallow gas sands already discovered in Venezuela’s Loran Field to the northwest into Trinidad and Tobago sovereign territory.
In Trinidad the company, the Manatee 1, drilled in 299 feet (91 meters) of water, is ChevronTexaco’s first operated well in Trinidad and Tobago waters. The well encountered six gas sand intervals for a total gross thickness of 899 feet (274 meters) and is currently under test. The drilling of the well commenced Jan. 14, 2005, and reached its total measured depth ahead of schedule.
The bilateral committee was set up in 2003 and began talks to negotiate a deal for the development of natural gas fields shared by the two countries in the
Caribbean. Delta Platform, which contains an estimated 38 Tcf on Venezuela's s side and 21 Tcf on Trinidad's side.The final agreement on the unitization was delayed last year as the PetroCaribe initiative was ramrod by venezuela without the previously understanding with Trinidad that undercut the Trinidad supply of oil to traditionally Trinidadian markets in the Caribbean.
ChevronTexaco activities in Trinidad and Tobago include exploration and production projects and in Venezuela exploration, production, commercialization and marketing projects. Besides Block 6d in Trinidad, ChevronTexaco is a 50 percent partner in the Dolphin, Dolphin Deep and Starfish fields. Dolphin has been on production since 1996 selling gas to the local market. Dolphin Deep is currently being developed to supply gas to Atlantic LNG Train 3 and in conjunction with the Dolphin field is expected to also provide gas to Atlantic LNG train 4.
ChevronTexaco headquarters for Latin America Upstream are located in Caracas.- Elio Ohep, editor@petroleumworld.com, 58 412 996 3730, Caracas.
Petroleumworld News 27 03 06
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