ISSUE 5 MARCH 2022
Our Team Gets the Job DONE!
At Heritage Petroleum Company Limited (Heritage), we depend on our sublicensed partners for nearly one-fifth of our production. Ensuring these operations are conducted in a safe, compliant and reliable manner, is the job of the Alliance and Contracts (A&C) team, which forms part of the Business Development Business Unit. The A&C programme is expansive, comprising 39 blocks geographically located from Point Fortin to Guayaguayare, involving 19 different Operators under three contract models (Lease Operatorship Agreement, Farmout Agreement, Enhanced Production Service Contract).
In 2020, the sublicensed blocks saw a decline in field activity due to low oil prices, COVID-19 and the fact that most of the sublicences were due for renewal. Over the past year, the A&C team, managed by Mukesh Samlal and ably supported by the Legal Business Unit, Finance Business Unit, HSSE Business Unit and other departments, was able to negotiate and execute agreements with improved incentives for our Operators. These incentives will empower Operators to successfully execute and expand their operations including the drive for Enhanced Oil Recovery (EOR) methods. Twenty-seven block sublicenses were renewed/ extended during December 2020 to June 2021 and with Operators invigorated by Heritage’s long-term goals, they wasted no time in re-energising the fields to pre-pandemic/pre-renewal activity. Currently, there are three drilling rigs actively “making hole” in the WD-4 (Grande Ravine), WD-9 (Forest Reserve) and WD-16 (Quarry) Blocks. Another Operator recently completed a four well drilling campaign in the WD-7M Block. Keeping track of all these activities is the colossal responsibility of our Field Auditors, who are our eyes, ears, hands and feet on the ground. The Field Auditor team led by Senior Field Auditor, Himmath Balkissoon, comprises Varma Arjoon, Mitchum Baney, Brijraj Mahabir, Ramchand Holass, Jamal Toppie and is ably
3
