Perenco group

Official ceremony: Perenco group general manager, Benoît de la Fouchardière, from left, celebrates the ribbon cutting for the refurbishment of the Macarius Power platform with general manager of Perenco, Gregoire de Courcelles; permanent secretary (Ag), Ministry of Energy, Penelope Bradshaw-Niles; permanent secretary (Ag), Ministry of Energy, Sandra Fraser; Energy Minister Stuart Young and Perenco group director Eric d’Argentre, at the ceremony on Thursday at the Caridoc ship yard in Chaguaramas.

PERENCO T&T Ltd (Perenco) made an investment of US$200 million in its first platform, “Macarius Power,” to be installed in the Teak, Samaan & Poui (TSP) fields, located off the southeast coast of Trinidad and Tobago.

Perenco, an Anglo-French energy company, is the operator of the consortium that manages the TSP fields, with a 70 per cent stake acquired in 2016.

The company and its local partners, Heritage Petroleum and the National Gas Company (NGC) launched a three-year platform refurbishment programme in early 2021.

A ceremony was held on Thursday afternoon, at the Caribbean Dockyard (Caridoc) in Chaguaramas, where the Macarius Power is currently moored.

In a statement yesterday, Perenco said: “The programme aims to modernise the TSP’s fields, replacing the existing gas-lift infrastructure and operations with electric submersible pumps and electrification of all TSP platforms.

“The first phase of this initiative has already increased production by 25 per cent. The next phase of the investment plan includes the installation of the Macarius Power, conversion of gas lift systems to ESP, produced water-reinjection programmes and well rehabilitation.”

The oil and gas company explained that the Macarius Power, which was previously a drilling rig, was recycled and converted at Caridoc, fully utilizing the skills and expertise of the local workforce.

“The installation of the Macarius Power, with two gas turbines on board, will provide reliable and clean electrical power to the TSP platforms reducing the overall carbon footprint of TSP operations by 30 per cent over the next three years, in line with this country’s sustainable development goals,” it noted.

Further, the company said as this project develops, the plan is to fully electrify the remaining platforms and move to a centralised low-emission, gas-fired power generation system.

“Perenco is committed to enhancing and developing local resources, to support economic growth and human development in the 14 partner countries where it operates. The installation of the platform is just one step in which Perenco affirms their strong commitment to T&T and strengthening their collaboration with projects and investments for a bright and sustainable future,” the company added.

The platform is expected to be installed by the end of this year.


WHOLLY State-owned National Gas Company (NGC) and NewGen Energy (NewGen) have deepened their partnership to cooperate on the enabling of a sustainable hydrogen economy for the energy sector of T&T, by signing a non-binding Heads of Agreement (HOA).

THIS week, the first grocerant, a grocery and restaurant combined, will be opened in T&T.

Called Food Hall, located in east Trinidad at Piarco Plaza, the grocerant has taken businessmen and friends, Omar Hadeed, Jonas Zakour and Daniel Fakoory, almost three years from idea to opening.

For the trio, it is their first local brand.

Chairman of the Tobago Business Chamber Martin George has called on Caribbean Airlines Ltd (CAL) to withdraw a news release it issued on Thursday, which he said appeared to place blame on the domestic airbridge for the airline’s economic woes and failures over the years and make an excuse for not increasing flights between Trinidad and Tobago.

RUM and bitters manufacturer, Angostura Holdings Ltd, yesterday declared an after-tax profit of $67.6 million for the six months ended June 30, 2022, a 21.7 per cent improvement over the $55.56 million the company earned in the same period in 2021.