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Columbus Energy Resources starts gas injection at Trinity Inniss field

“The CO₂ project is an important enhanced oil recovery project for both the company and Trinidad," Leo Koot said

Columbus Energy Resources PLC - Columbus Energy Resources starts gas injection at Trinity Inniss field

Columbus Energy Resources PLC (LON:CERP) has marked the beginning of CO₂ gas injection in the enhanced oil recovery (EOR) project at the  Trinity Inniss field, Trinidad.

The company said that it has so far injected the first tank of gas into the AT5X well at Trinity Inniss and over time it will now determine what impact this has for enhanced production in ‘offset’ wells to AT5X.

"The company has successfully injected the first tranche of CO₂ in the Trinity Inniss field,” said Leo Koot, Columbus chief executive.

“The CO₂ project is an important enhanced oil recovery project for both the company and Trinidad. I look forward to updating the market as to the results of the CO₂ pilot project in due course."

READ: Columbus set to test Saffron well in February

Columbus is partnered with Predator Oil & Gas in the EOR project and together they will proceed to continuous injection of CO₂.

Predator is supporting the funding of the venture, and it has an option to acquire the project for US$4.2mln – the option has a deadline of 30 September 2020.

In a separate statement, Predator chief executive Paul Griffiths said: "This is an important operational milestone in the development and execution of our Pilot CO2 EOR project with Columbus.

“Pilot CO2 EOR is important to Predator for the potential to provide both near term revenues and future growth in revenues.

“The first injection of CO2 is a practical demonstration of our core commitment to sustainability and helping to reduce CO2 emissions through sequestration in Trinidad.”

Quick facts: Columbus Energy Resources PLC

Price: 1.25 GBX

AIM:CERP
Market: AIM
Market Cap: £10.91 m
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