Trinidad field exceeds second output target

Surpassing expectations: the Caribbean island of Trinidad

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Danica Newnham

 29 January 2013 09:43 GMT

UK-listed Leni Gas & Oil said its wholly-owned Goudron field in Trinidad has exceeded its second production target since being acquired in October, reconfirming the company’s decision to sell its Spanish assets and focus more on the Caribbean island.

“Production in Trinidad has now surpassed Spain and we are delighted with our decision to focus more of our resources on Trinidad,” Leni chief executive Neil Ritson said in a statement on Tuesday.

The company sold its La Lora production concession and its Basconcillo, Huermerces and Valderredibles exploration licences in Spain to a private buyer in July. It then acquired a 100% working interest in the Goudron production sharing contract in Trinidad & Tobago in October.

Leni’s first production goal for the Goudron field was 100 bpd, which was reached in late November.…

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