30th Jul 2019 14:04
(Alliance News) - Trinity Exploration & Production PLC has agreed a deal to use "state-of-the-art" technology to improve performance on its wells in Trinidad & Tobago, it said Tuesday.
Trinity has signed a deal with Irish oil and gas services firm Weatherford International PLC to use Weatherford's ForeSite Production Optimisation platform, which Trinity said will "maximise" returns from onshore wells.
The platform provides software and technology for real-time pump monitoring, and this will be the first time this technology has been used onshore in Trinidad.
The technology will first go through a trial period, and if successful, Trinity hopes to continually use it in future.
Trinity Exec Chair Bruce Dingwall said: "As a technically and commercially driven production company, we are highly focused on maximising returns from our assets. As such, we believe with this exciting new technology application and continuous data measurement and capture we would be able to optimise lift efficiency on key wells, reduce downtime and enhance productivity.
"This system has the potential to assist in our decision-making and planning process as we focus on achieving our production targets. We are proud to be the first company to use this technology onshore in Trinidad and believe it will enable us to protect and grow base production."
"When you couple this state-of-the-art measurement and production optimisation alongside the company's ambitious plans to drill the first onshore high angle well in Trinidad, as part of the company's 2019 drilling campaign, it is clear Trinity is a technical leader in its field," said Dingwall.
"We really have enjoyed the close working relationship that we have developed with the Weatherford team and we look forward to working with them in further digitising and optimising our production operations."
Shares were 2.1% lower on Tuesday afternoon in London at 12.97 pence each.
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