DeNovo Delivers First Gas From Trinidad’s Iguana Field
DeNovo Energy said November 21 it has made the first commercial deliveries of natural gas from its Iguana field offshore Trinidad and Tobago. It is the company’s first stranded gas development, and will produce 80mn ft3/day when fully operational.
DeNovo, a subsidiary of the Proman Group, was established in 2015 with an injection of $250mn, which represented the group’s initial investment and foray into the upstream sector in Trinidad and Tobago. DeNovo assumed operatorship of Iguana in 2016, and was able to achieve gas delivery in less than three years utilising over 73% local content, Proman said in a statement.
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Trinidad, the first country in the Latin America and Caribbean region to develop LNG export facilities, has experienced declining domestic gas output in recent years, which has affected supply to local industries across the twin-island country.
“Proman has proven the great potential from natural gas still exists in Trinidad and Tobago despite the challenges faced by the local energy industry,” DeNovo CEO Joel Pemberton said.
The Iguana field is the first marginal natural gas field to be developed in Trinidad, and the first gas development off the west coast. Additionally, the associated Iguana gas pipeline is the first on the west coast to connect to the Point Lisas Industrial Estate.
Proman, which has operated in Trinidad since 1984, owns and operates 14 petrochemical plants in the Point Lisas Industrial Estate, which amounts to more than 50% of the installed petrochemical capacity in Trinidad.
“After 30 years in the downstream sector, we decided to invest in a local upstream company at a time when gas curtailments seriously impaired Trinidad and Tobago’s global competitiveness,” Proman CEO David Cassidy said. “Together we have achieved a significant first for Trinidad and Tobago.”