PORT OF SPAIN, Trinidad, CMC – A team from Heritage Petroleum Company Ltd has met with Barbados National Oil Company (BNOCL) officials to discuss a potential collaboration in oil recovery on that island.
A statement from Trinidad & Tobago’s State-owned oil and gas company said a three-member team that recently traveled to Barbados and, during meetings with the BNOCL representatives, explored the possibility of collaborating on a joint secondary recovery initiative focused on increasing oil and gas production from BNOCL’s Woodbourne Oilfield in the southeast of the country.
This discussion follows Heritage’s ongoing success in boosting oil production through its Enhanced Oil Recovery program.
The Heritage delegation shared details of their operations and experience with their BNOC counterparts.
“Discussions centered around Heritage’s onshore and offshore assets and operations, Heritage’s competencies in managing mature assets, and implementing a robust Operations Management System. This has brought about improvements in safety and efficiency, which has resulted in strong financial results,” the company said.
The Heritage delegation also shared information on its Environmental, Social, and Governance (ESG) strategy, highlighting the company’s focus on sustainability, protecting the environment, building community capacity, supporting economic development, and empowering future leaders.
The discussions between Heritage and BNOCL come on the heels of the recent review of Heritage’s 2022 results and 2023 Business Plans by Minister of Energy and Energy Industries Stuart Young and his mandate to the Heritage Board and Leadership to “continue to identify opportunities to grow the business.”
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