Repsol sells Trinidad field trio to Perenco

  • Business & Finance

Oil and gas company Perenco is buying a 70% interest in the Teak, Samaan and Poui Block (TSP), offshore Trinidad and Tobago.

The interest in the fields, located offshore south east of Trinidad, has been bought from Repsol E&P T&T, a subsidiary of the Spanish oil company Repsol.

Repsol has rights to eight blocks, one in exploration and seven in production, in Trinidad and Tobago.

Perenco will be the operator of the TSP assets, where current production is in the region of 14 000 bopd barrels of oil equivalent per day.

The company noted that the completion of this acquisition opens the door to future collaborations and opportunities in Trinidad & Tobago.

Commenting on the announcement, Perenco’s CEO, Benoît de la Fouchardiere, said: “We are very pleased to be entering Trinidad & Tobago with the acquisition of a 70% interest in the Teak, Samaan and Poui fields.

“Maintaining production from ageing assets is a core Perenco competence, and this transaction highlights Perenco’s delivery of our operator led strategy. We look forward to a long partnership with Trinidad & Tobago and welcome the former Repsol employees to Perenco.”

In related news, an offshore worker died in an accident aboard a Perenco-run North Sea platform, offshore UK, earlier this week.

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