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Denovo delivers first gas from Iguana field

22nd November 2018

Local company increases gas supply with new production from previously stranded reserves.

Iguana Platform Deck Installation

DeNovo Energy Limited (DeNovo) today announced production of its first commercial supply of natural gas from the Iguana field in Block 1(a).  Part of the Proman Group, DeNovo is now Trinidad and Tobago’s 5th natural gas producer, with a proven and sustainable model for increasing gas supply security by safely and quickly developing stranded and marginal gas reserves at a competitive cost. 

The Iguana field was first discovered in 1982, but remained undeveloped for over thirty-four (34) years until DeNovo became the operator in 2016.  The fast-track field development was executed in under three (3) years with over 73% local content from over 2.6 million man-hours with zero (0) Loss Time Incidents (LTI’s).  Iguana was the first west coast natural gas field to be developed in Trinidad and Tobago, and the first offshore gas development to be completed utilising a local jack up rig. 

DeNovo will deliver 80 million standard cubic feet of gas per day (MMSCFD) from the Iguana field for use by the petrochemical plants on the Pt. Lisas Industrial Estate through the National Gas Company of Trinidad and Tobago (NGC). 

Joel M. C. Pemberton, DeNovo Founder and Chief Executive Officer commented:

“I am extremely proud of our team for delivering this project safely, swiftly and to international standards. We have achieved a noteworthy first for Trinidad and Tobago, and have demonstrated our competency, agility and innovation as a local upstream operator of choice for monetising stranded gas reserves.  Iguana’s unique development concept utilised technology driven solutions to reduce project execution time, and significantly enhanced the operating economics, controls, safety and security.  The project displayed strong local leadership with powerful global collaboration, and was delivered by a team working from over 12 countries with significant local content.

Our new model could not have been created without the Proman Group, who invested USD 250 million in DeNovo for our first field development and provided world-class expertise from across the Group to facilitate delivery. The Gas Processing Unit was designed by Eurotecnica Contractors and Engineers S.p.A, and it was constructed by Proman AG (Trinidad) Limited, with start-up expertise delivered by Industrial Plant Services Limited (IPSL).  This investment in gas production by the largest petrochemical player in Trinidad and Tobago represents a positive and sustainable evolution in the relationship between the downstream and upstream sectors of the local energy industry. This has yielded outstanding results as Trinidad and Tobago’s overall natural gas supply increases with our Iguana production.

Our successful joint venture partnership with NGC, our collaboration with strong local and international partners, and our robust technological foundation all contributed to our success. DeNovo stands poised to expand our operations and to develop more stranded gas fields in Trinidad and Tobago for the common good.”

David Cassidy, Chief Executive of Proman, congratulated the DeNovo team saying: “I am extremely proud of our teams for the rapid, professional and safe way they have delivered this world class project. Together we have achieved a significant first for Trinidad and Tobago demonstrating Proman’s commitment to enhancing the competitiveness of Trinidad and Tobago’s energy industry and increasing the security of gas supply in the country.  This locally driven effort highlights the increasingly important role DeNovo is playing in the Trinbagonian economy, and Proman is proud to play a role in this sustainable evolution within the local Energy Industry.”

Mark Loquan, President of The National Gas Company, commented:

"DeNovo’s first gas production is an important milestone for our industry as it highlights a local player coming into the petrochemical gas market.  Production from the Iguana field is also very significant as Trinidad and Tobago’s first west coast natural gas field development.  The speed at which this field was developed highlights the level of commitment, talent and innovation which exists in Trinidad and Tobago’s Energy Industry. 

I am especially pleased that the Iguana development was done through a joint venture with NGC, and with the work done by a local team focused on maximising local content for the benefit of Trinidad and Tobago.  Our country continues to be at the forefront of new and innovative developments in energy, and I see a bright future for our industry”.

 

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