STATE ENTERPRISES’ INVESTMENT PROGRAMME 2014
21
SUSTAINING GROWTH, SECURING PROSPERITY
in early October 2012 on the Baraka Tie-
In and Compression (BTIC) project which
was completed in January 2013. The initial
projection for fiscal 2013 was $10.0 million
and was revised to $53.0 million. Other
projects included in fiscal 2013 are facilities
upgrades and projects to highlight HSE
issues. For fiscal 2014, an estimated $23.0
million is projected as PETROTRIN’s share of
the capital projects for the Central Block.
• North Coast Marine Acreage (NCMA) Joint
Venture, Block 9
– This joint venture is an
agreement between BG, ENI, NSGP (Ensign)
Limited and PETROTRIN. For fiscal 2013, the
estimate was revised from $100.0 million
to $146.0 million for works on Phase 4a –
Hibiscus Compression Project. First gas is
targeted for the second quarter of 2014. For
fiscal 2014, $53.0 million was projected for
NCMA’s Block 9 capital projects.
• North Coast Marine Acreage (NCMA)
Joint Venture, Block 4
– This joint venture
is an agreement between Venture North
Sea Oil Limited and PETROTRIN. A joint 3D
seismic acquisition and processing of data
was completed over NCMA 2, 3 and 4 blocks
and final data was received. PETROTRIN’s
share of capital expenditure included drilling
of an appraisal well which is expected to
be spudded in fiscal 2013. An estimated
$45.0 million is projected for the balance of
fiscal 2013 as PETROTRIN’s share of capital
expenditure.
• Galeota Joint Venture
– This joint venture,
between
Bayfield
and
PETROTRIN,
commenced with the spudding of the first
exploration well (EG-8) on January 27, 2011.
For fiscal 2013, $30.0 million was projected
by the company to replace a line to the shore
line.This was revised to $50.0million. Studies
for front-end engineering design (FEED) were
deferred as Bayfield was taken over by a new
partner, Trinity. PETROTRIN’s estimate for
fiscal 2014 is $122.0 million to meet its share
of capital expenditure
•
Block 22 Joint Venture
– This is a joint
venture between Centrica Resources Limited
and PETROTRIN. FEED studies for CNG
option was delayed pending the results of
an appraisal well which was expected to be
spudded in May 2013. The projection of
$125.0 million for fiscal 2013 was revised to
$64.0million and for fiscal 2014, $43.0million
was projected.
•
Central Range Shallow Joint Venture
–
This joint venture is owned by Petro-Andina
Voyager Energy and PETROTRIN. This joint
venture drilled its second exploration well in
the Shallow PSC – Mapepire-1 and drilled two
(2) exploration wells in the Deep PSC – Tigre
and Bushmaster. PETROTRIN’s contribution
for fiscal 2013 is $15.0 million.
•
Southeast Coast Consortium (SECC)
Joint Venture
– This joint venture is between
EOG Resources, PETROTRIN and NGC.
PETROTRIN’s estimate for fiscal 2013 was
$10.0 million. However, this was revised to
$30.0 million. The PARULA Compression
projectonthePelicanPlatformwascompleted
and first gas achieved in February 2013. Other
projects for 2013 are:
• Oilbird Field Compression Installation
with first gas expected in February 2014;
• Kiskadee Firewater System Upgrade to
address HSE issues;
The projection for fiscal 2014 is $10.5 million.
ECONOMIC INFRASTRUCTURE
