Trinity Exploration Provides Update on Galeota Asset Development Project

Source: www.gulfoilandgas.com 3/9/2022, Location: South America

Trinity Exploration & Production plc (AIM: TRIN), the independent E&P company focused on Trinidad and Tobago, has received the final Certificate of Environmental Clearance ("CEC") for the Galeota Asset Development ("GAD") Project from the Environmental Management Authority of Trinidad and Tobago ("EMA").

This now completes all required environmental clearances for the Echo Field Development, which has the potential to achieve peak annualised gross production of circa. 7,000 bopd. Receipt of the CEC is another important step on the path to achieving Final Investment Decision ("FID") for the Echo Field Development. The timetable to FID will ultimately be subject to the outcome of the farm-down process for Galeota, which encompasses the current Trintes production, the matured Echo Field Development and the Foxtrot and Golf appraisal areas.

Jeremy Bridglalsingh, Chief Executive Officer, commented:

"Acquiring the CEC for the Echo Field Development is a notable step on the path to FID, and we are appreciative of the support from key contractors as well as the constructive dialogue and thorough manner in which the EMA guided the CEC process.

"The Galeota farm-down process continues with healthy levels of engagement from interested parties. Furthermore, the anticipated reform of the taxation regime should create a more attractive environment for Trinity and potential partners to deploy investment capital into GAD and similar projects."


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