(Trinidad Guardian) The energy sector was given a dose of good news over the weekend after the discovery of virgin oil in the Jacobin-1 well.
Trinity Exploration announced the discovery in a statement on Monday.
The company stated that Jacobin-1 had been successfully drilled to a total depth of 10,021 feet and is one of the deepest wells drilled in recent times within the prolific Palo Seco area, onshore Trinidad.
According to the company’s news release, “Over 290 feet of net oil pay encountered in the Jacobin well, including 63 feet of net oil pay in the deeper exploration targets.
A comprehensive logging and pressure sampling programme has confirmed virgin pressures in these deeper zones.”
A virgin discovery signifies that production has not previously done from the find.
Jeremy Bridglalsingh, Chief Executive Officer of Trinity, said, “This is a very significant and material achievement by the team.
To find virgin oil in our mature acreage points to a step-change in our understanding of the hydrocarbon system, the remaining resource potential and how we can approach the exploitation of these resources.”
Trinity said the discovery validated the company’s “geological model and are within pre-drill range for a commercial discovery.”
The company confirmed that the well is being prepared for a series of production tests that is likely to commence with the deepest oil-bearing reservoir, and first production is expected during September.
He continued, “I would like to congratulate the Trinity team on this success. We have demonstrated a true competitive advantage by the hard work in building our geological understanding, working through the many aspects of planning and delivering a complex well and critically, safe execution of drilling operations.”
Briglalsingh also praised state owned Heritage Petroleum for its work in the drilling process.
“I would also like to thank our partner Heritage, for their valued help and assistance in facilitating the drilling of this well. The next step is to undertake a full production testing programme, that is expected to commence during September. We look forward to updating shareholders on our progress,” he said.