Trinidad

  • Range entered Trinidad in 2011 through the acquisition of three producing onshore licences - Morne Diablo, South Quarry and Beach Marcelle
  • Subsequently, Range acquired interests in exploration acreage on the Guayaguayare and St Mary’s licences
  • Today, Range is the operator and majority interest holder of five blocks 
  • Active ongoing work programme underway including workovers, development drilling and secondary recovery (waterflood)
  • Proved and probable (2P) reserves of 16 million barrels (FY 2017)
  • Annual production in excess of 190,000 barrels (FY2017)

LicenceWorking interestOperatorStatus and work programme
Beach Marcelle100%RangeIn production. Workovers, developement drilling, waterflood
Morne Diablo100%RangeIn production. Workovers, development drilling, waterflood
South Quarry100%RangeIn production. Workovers
Guayaguayare Shallow*65%RangeUnder review
Guayaguayare Deep*80%RangeUnder review
St Mary’s80%RangeUnder review 

*Production Sharing Contracts over the Guayaguayare have expired and are subject to final government approvals.

Waterflood overview

  • Longer-term production growth in Trinidad is expected to be driven by waterflood projects
  • 80% of Range’s 2P reserves are attributed to waterflood
  • Waterflooding is estimated to increase the total recovery factor to over 30%
  • Two waterflood projects are currently in production
  • The Company plans to expand waterflood to other areas of its fields as part of the future work programme

Waterflood technology

  • Waterflooding is a low cost secondary production solution to increase the amount of oil that can be recovered from an oilfield. The process involves converting some oil production wells into water injection wells by injecting water into the reservoir to encourage oil production from the remaining producers
  • Most fields in Trinidad have been traditionally produced by “primary recovery”, which uses the solution gas dissolved in the oil to provide the driving force to produce the oil to surface
  • This is a cost effective way to produce initial oil, but recovers only about 15% of the oil-in-place – 85% of the oil remains in the reservoir
  • Waterflooding can recover at least a further 10% of the oil-in-place
  • Texaco used this technique successfully in parts of the Beach Marcelle field in the 1950s/1960s
  • The technique has been used in many onshore fields in regions with a long history of oil production, such as USA, Middle East, China, Latin America