Untitled document Domestic Development:
New production techniques combined with new technologies have given new life to old wells and unconventional reserves. NHE continues to pursue opportunities to find more oil and gas. These well defined projects are proving quite successful. Active projects have successfully found oil and gas in Louisiana, Oklahoma and Texas, with several more wells yet to drill. Caribbean Development:
After considering other huge oil companies such as the National Oil Companies of China and India, Petrotrin, the National Oil Company of Trinidad & Tobago, chose NHE's subsidiary, New Horizon Trinidad & Tobago, Ultd., to develop and produce the remaining heavy crude in a lease block in southwest Trinidad.
New Horizon Exploration Trinidad & Tobago with the National Oil Company of Trinidad & Tobago, Petrotrin, has now drilled outtake wells and injection wells in the Parrylands Block E.New Horizon Exploration operates the joint venture project. The field was developed over five years. Wells are now in the Huff and Puff stage of the steam flood project. Initial results indicate that there are structural and stratigraphic complexities that are now just being revealed due to the increased density of drilling. 2007 will be a time when additional wells will be drilled to increase the efficiency of the steaming.NHE's drilling rig is the first land-based rig to arrive on the island or Trinidad in two decades. The rig completed all the drilling operations for NHE and is now under contract with other operators drilling in the southern portion of the island of Trinidad, just 11 miles from OPEC-member country Venezuela. The recent formation of an exploration consortium hopes to expand onshore drilling in Trinidad.
New Horizon will take an active role in education in Trinidad, by the transfer of knowledge, experience and technology to Petrotrin and students on the island, through technical and hands-on training at various stages of the operation.
