Start-up of another well boosts Trinidad and Tobago’s oil production

Trinidad & Tobago’s state-owned oil and gas player Heritage Petroleum Company Limited (Heritage) has brought on stream a new oil well off the coast of Trinidad and Tobago.

While confirming the commissioning of its latest offshore oil well, S-938, Heritage described the new well as “a significant milestone” in its field development efforts. This well has an expected average daily rate of 500 barrels of oil per day (bopd), thus, the company believes that it will contribute significantly to its revenue.

Erik Keskula, Heritage’s Chief Executive Officer, commented: “I wish to thank all the company and contractor personnel that diligently worked to safely deliver this new production to Trinidad and Tobago. Over the next month, we will operate the well with a goal of optimising fluid production rates to maximise oil recovery and cash flow.”

Located within the Soldado East field, S-938 is the third well to be put into production after the firm embarked on its offshore drilling program in line with its strategy to grow high-margin production. The well was spud in August 2023.

Following design and engineering efforts, the topsides were completed in March 2024. Afterward, the requisite inspections and statutory approvals were handled before commissioning started. Heritage anticipates ongoing benefits from this well and three additional ones, which are expected to come online in the coming months.

The state-owned player is working to maximize value, with the execution of projects and routine upstream activities within the Soldado fields, where over six hundred wells have been drilled to date, targeting the Cruse, Forest, and Morne L’Enfer formations.

Discovered between 1954 and 1965, three major Soldado fields – Main, East, and North Soldado – were some of the earliest major discoveries in the Gulf of Paria.