Amoco Announces Another Gas-Condensate and Oil Discovery in Trinidad

abarrelfullabarrelfull wrote on 09 Aug 2012 08:33

24 September 1998
Amoco Energy of Trinidad and Tobago (Amoco Energy) today announced another natural gas and crude oil field discovery off the east coast of Trinidad, continuing a trend of successful exploration and development in the area.
The well identified 870 feet of gross oil and gas pay in 11 different productive zones. The 11 zones are the most that Amoco has had in any exploratory discovery in Trinidad, which continues to demonstrate Trinidad's resource potential. Preliminary estimates for recoverable resources are 750 billion cubic feet (BCF) of gas and 25 million barrels of oil and condensate (MMBO).

This discovery is the 15th success out of 21 exploratory wells drilled offshore Trinidad by Amoco Energy over the last five years. The combined results have brought the total exploration resources discovered from 1994 to date to over 13 trillion cubic feet of natural gas and over 300 million barrels of crude oil and condensate.

Larry Tiezzi, Exploration Vice President of Amoco Energy said, "Our continued success in Trinidad is directly related to our strategic focus. Through the use of advanced technology, process improvements and our diverse workforce, Amoco Energy is uniquely positioned to take exploration from concept to discovery very quickly. In so doing Amoco is able to provide superior value to the Government and people of Trinidad and Tobago."

The Parang well is located 43 miles (~70km) southeast of Galeota Point in water depths of 230 feet and was drilled to a depth of 12,164 feet. No tests were performed on the identified pay zones.

Amoco Energy Company of Trinidad and Tobago is a wholly owned subsidiary of Amoco Corporation, a global producer of oil, natural gas, refined products and chemicals, with annual revenues of more than $36 billion.

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