Business
Pilot Enhanced Oil Recovery Onshore Trinidad
Pilot Enhanced Oil Recovery Onshore Trinidad.
About this update from Predator Oil & Gas Holdings Plc
[{"type":"text","content":"\n \n \n RNS Number : 6979M\n Predator Oil & Gas Holdings PLC\n 13 May 2020\n \n \n \n \n \n \n \n FOR IMMEDIATE RELEASE\n \n \n 13 May 2020\n \n \n \n \n \n Predator Oil & Gas Holdings Plc / Index: LSE / Epic: PRD / Sector: Oil & Gas\n \n \n Predator Oil & Gas Holdings Plc\n \n \n (\"Predator\" or the \"Company\" and together with its subsidiaries \"the Group\")\n \n \n \n \n \n Pilot Enhanced Oil Recovery onshore Trinidad\n \n \n using injected Carbon Dioxide (\"Pilot CO2 EOR\")\n \n \n \n \n \n Predator Oil & Gas Holdings Plc (PRD), the Jersey-based Oil and Gas Company with operations in Trinidad, Morocco and Ireland, \n notes the announcement today by Columbus Energy Resources PLC (\"Columbus\"), that the Petroleum Operations Management Division of the Ministry of Energy and Energy Industries (\"MEEI\") has granted approval for the AT-5X carbon dioxide and injection system to start injecting for a period of 90 days. This will allow the maximum carbon dioxide injection rate and pressure, as determined by the reservoir engineering forecasts, to be achieved.\n \n \n The carbon dioxide injection and delivery system and site layout has been independently inspected to ensure that the highest HSE standards possible are applied to enable operations to continue uninterrupted during the COVID-19 public health emergency. \n \n \n \n Paul Griffiths, Chief Executive of Predator, commented:\n \n \n \"This is an important operational development that allows us to increase our ability to sequestrate anthropogenic carbon dioxide whilst accelerating the point at which revenues are generated. Enhancing the scale of return on investment can be achieved by maximising well deliverability. We are pleased that continuing to execute our CO2 EOR strategy by increasing CO2 injection volumes is helping us to reach our near-term goal of developing a carbon-neutral energy business. At the same time, we are maintaining during these difficult times our support for contributing to the local economy, which is significantly dependent on the energy industry.\" \n \n \n Background - Trinity Inniss CO\n ₂\n \n Project\n \n \n \n As previously announced, the term of the Inniss-Trinity Incremental Production Service Contract (\"IPSC\") has been extended to allow for the impleme...