Columbus, the oil and gas producer and explorer focused on onshore Trinidad and Suriname, is pleased to announce the first injection of CO₂ in the Trinity Inniss field.
Leo Koot, Executive Chairman of Columbus, commented:
"The Company has successfully injected the first tranche of CO₂ in the Trinity Inniss field. The CO₂ project is an important enhanced oil recovery project for both the Company and Trinidad. I look forward to updating the market as to the results of the CO₂ pilot project in due course."
Background - Trinity Inniss CO₂ Project
As previously announced, the term of the Trinity Inniss Incremental Production Service Contract ("IPSC") has been extended to allow for the implementation of the CO₂ Pilot Project.
The Company has now injected the first tank CO₂ into well AT5X in the Trinity Inniss field and will over time contribute to the determination of any impact on enhancement of production in offset wells to AT5X. The Company and Predator, its joint venture partner, will proceed to continuous injection of CO₂ as is required to fully evaluate the potential of CO₂ injection to increase oil production from the offset wells.
The Company's interest in the Trinity Inniss field benefits from an agreement with Predator Oil and Gas plc ("Predator"), whereby Predator will help plan and fund the CO₂ EOR Pilot Project (the "CO₂ pilot project"). As part of agreement with Predator, Predator has the right (until 30 September 2020) to purchase the Company's interest in the Trinity Inniss field for US$4.2m.