DAMUS
OIL LIMITED Established in 1988, Damus Oil Limited, a wholly owned
subsidiary of DAMUS LIMITED, is an independent oil company involved
in the production of crude oil from fields leased to it under
the Lease Operatorship and Farmout Programmes of the Petroleum
Company of Trinidad and Tobago Limited (PETROTRIN).
Under the Lease Operatorship Programme, Damus Oil leases primarily
marginal wells, not acreage. The company has two such leases,
Coora Block 1 and Coora Block 2, in which approximately sixty
wells have been successfully reactivated. Crude oil production
is gained through various methods of artificial lift. Damus Oil
has four oil fields in the Farmout Programme under which acreage
is leased from Petrotrin.
The sites may contain little or no production and new drilling
is a contractual commitment. Farmout fields include New Dome,
South Palo Seco, Mahaica Gas Field and San Francique. Damus Oil
has invested substantial capital in the acquisition of physical
assets in order to ensure that production is not only maintained
but significantly increased from its Lease and Farmout operations.
In the struggle to gain production from stripper wells, especially
in a period of volatile oil price and consequent marginal economics,
innovative methods of recovery must be developed and employed.
Damus Oil and its staff have risen to these challenges and have
to-date achieved a cumulative production in excess of seven hundred
thousand barrels of oil since the start of operations.
All operations of Damus Oil are handled in a manner that ensures
that they are environmentally sound and that safety is a prime
concern.
