Business
Ria Chaitram
Trinity Exploration and Production has reported 3,032 barrels of oil produced and revenue of US$66.9 million as part of its half-year highlights of 2021.
In a media release on Wednesday, the Ministry of Energy and Energy Industries said the company also raised US$35 million in equity for the period of 2017-2021, paid US$26 million in taxes and made US$37 million in investments.
Energy Minister Stuart Young and acting permanent secretary Penelope Bradshaw-Niles met with Trinity’s non-executive chairman Nicolas Clayton and chief executive officer Jeremy Bridgelalsingh to discuss the impact of covid19 on the oil and gas sector as well as the successes of the company.
“The successes of Trinity include 3,032 barrels of oils produced, bringing in a revenue of US$66.9 million as part of the half-year highlights of 2021, 14 onshore wells, 105 recompletions and increased production by 28 per cent since 2018,” the release said.
Young pointed out the government’s willingness and urgency to work with such a technologically-driven organisation and also accepted an invitation to tour its facilities while Trinity also focused on clean energy production.
Trinity Exploration and Production is an oil producer based in TT, that operates assets onshore and offshore in the shallow waters off the east and west coasts.
Its low-cost business model is geared towards providing growing margins and increasing profitability within the current oil price environment, the release said.
