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Trinidad oil field changes hands
Leni Gas & Oil plc, a company based on London’s junior stock exchange, yesterday announced that it was taking control of the final transfer of 100 per cent ownership of the Goudron Field incremental production service contract (IPSC) from the current contract owner Cameron Oil and Gas Ltd.
The Gourdon field is located in south-eastern Trinidad between the East Moruga and Beach Marcelle fields and has direct access to the Petrotrin oil export pipeline to the Pointe-a-Pierre refinery in western Trinidad. The IPSC with Petrotrin remains in full force and all approvals were already in place to assign the contract and operatorship to Leni Gas & Oil from Cameron Oil and Gas, according to a statement issued by London’s AIM stock market.
The two oil companies recently announced a workover program of five wells in collaboration with COGL and that work will now continue uninterrupted and will be extended to at least 30 additional wells. Leni’s chief executive, Neil Ritson, said: “Completion of the acquisition represents the culmination of a year’s preparation and we are delighted to now take operatorship of the field.
Leni Gas and Oil has recently completed an independent reserves report and we see enormous potential for production enhancements and additional future development of Goudron. An operated rig is already active on the field and the results from that programme will be available shortly.” A recent independent reserves report by Challenge Energy Ltd reported proven and probable reserves of 7.2 million barrels and proven, probable and possible reserves (3P) of 30.4 million barrels.
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