Petro-Canada said that, in Trinidad and Tobago, the Cassra-1 well in deepwater Block 22 was completed as a significant natural gas discovery. Petro-Canada operates the well and holds a 90% interest. Based on well results and using local field recovery factors, the company stated that the discovery could have around 0.6 to 1.3 trillion cubic feet of contingent resources.
The second discovery was made in the UK sector of the North Sea. The discovery well reportedly encountered two oil columns that total nearly 80 meters when combined. Petro-Canada operates the well and holds a 50% interest. The company said that early drill stem test data indicates the reservoir has the capacity to yield commercial flow rates.
Petro-Canada and its partners plan to conduct appraisal activity on both the Trinidad and Tobago and UK discoveries to fully assess the resource base before considering development options.
