Predator Oil & Gas Holdings plc said it continued to evaluate its options to recover revenues from its operations at the Inniss-Trinity gas project in Trinidad.
SETTLEMENT
This is to recover significant CO2 EOR [enhanced oil recovery] revenues to which the company believes it is entitled under the WPA with FRAM Exploration Trinidad Ltd.
Predator said it would also look for an amicable settlement from FRAM’s decision in July 2021 to terminate prematurely the Inniss-Trinity CO2 EOR project.
The company today announced it had successfully decommissioned its CO2 EOR surface facilities at Inniss-Trinity in Trinidad.
PS-1 BLOCK FIELD
The company said it was making good progress with Lease Operators Ltd (LOL) for a new CO2 EOR joint development project for the PS-1 Block field.
LOL, which has 1,850 bopd of production onshore Trinidad, is progressing towards the award of a certificate of environmental clearance.
JOINT VENTURE
Predator also continues discussions to create a jointly owned in-country special purpose vehicle to develop CO2 EOR projects of a number of onshore producing fields.