Chinese Embassy in Trinidad and Tobago Visits RRTL, to provide guidance and support the advancement of the group’s global strategic layout.

Chinese Embassy in Trinidad and Tobago Visits RRTL, to provide guidance and support the advancement of the group’s global strategic layout.

     Recently, a high-level delegation from the Embassy of the People's Republic of China in Trinidad and Tobago (hereinafter referred to as "the Chinese Embassy") paid an official visit to Range Resources Trinidad Ltd (RRTL), a subsidiary of NEW JCM Group, for an on-site inspection and communication. During the facility tour, the Chinese Embassy delegation expressed full recognition of RRTL's longstanding commitment and remarkable accomplishments in Trinidad and Tobago's oil and gas sector. They particularly commended the company's ability to maintain robust operations despite facing multiple challenges including international competition and complex business environments. Representatives from RRTL provided a comprehensive presentation detailing the Group's development strategy, RRTL's operational performance in Trinidad and Tobago, and shared visionary strategic plans for further expansion in the country's energy and petrochemical markets. This significant visit not only serves as high-level endorsement of RRTL's years of dedication in overseas energy markets, but more importantly establishes a solid foundation for enhanced energy cooperation between Chinese enterprises and Trinidad and Tobago in the future.

     As an important carrier for NEW JCM Group's global energy market strategy, RRTL has been firmly rooted in Trinidad and Tobago for many years. The company has established a stable operational framework centered around three core oil fields - Beach Marcelle (BM), Morne Diablo (MD), and South Quarry (SQ) - and continues to expand its development scale under the authorization of the host country's government.

1.Outstanding Resource Value: High Reserves with Stable Production Capacity

     According to the 2025 Reserve Assessment Report, RRTL's three major oil fields collectively possess substantial 2P (Proved + Probable) reserves with considerable net present value (NPV), demonstrating significant economic potential. Key highlights include:

·BM Oil Field leads in 2P reserves and serves as the primary area for future production growth. As per the field development plan, major operational activities will be implemented between 2025 and 2028. Post-implementation, production is expected to increase significantly, with peak output projected to reach 1,319 barrels per day (bpd) by 2027.

·MD Oil Field boasts a strong historical production record and promising rehabilitation potential. Its peak production is forecasted to achieve 1,208 bpd by 2027.

·SQ Oil Field features excellent reservoir quality and stable development, making it a model for high-efficiency oil recovery. Following workover operations, its peak production is anticipated to reach 198 bpd by 2028.

·Based on RRTL's operational schedule, major drilling and workover activities will be concentrated between 2025 and 2028. By 2027, the peak 2P production is projected to reach 2,709 bpd.

2.Solid Technical Capabilities: Remarkable Results in Waterflooding Efficiency and Decline Rate Control

     RRTL has been actively advancing intelligent reservoir management and precision development. The company pioneered waterflooding development at the BM oilfield as a pilot project, achieving significant improvements in water cut and production capacity. The steady production increase from major wells has established a successful model for waterflooding-driven development. RRTL plans to drill multiple new wells and implement workover programs to further enhance recovery efficiency.

      Through comprehensive decline curve analysis and scientific parametric modeling, RRTL has projected peak production to reach 1,319 barrels per day (bopd) by 2027. The development plan demonstrates sound scientific methodology with achievable expectations.

3.Robust Economic Model: Renewable Contracts with Guaranteed Returns

     Currently, RRTL effectively controls development costs while significantly reducing operational expenses and enhancing profit flexibility through partnerships with service companies and the adoption of a "profit-sharing + entrusted operation" model. Additionally, the project features robust cash flow projections, ensuring stable profit returns for the group over the next 15 years.

4.Oil and Gas Development in Parallel: Significant Gas Reserves and Exploration Potential

      In addition to its abundant oil reserves, RRTL’s MD region features the QUN32 well, where the gas-producing layer is the 4th Sand Stratigraphic Sediment of the Lower Cruse. Estimated geological reserves, calculated through well testing methods, amount to 194,230.85 MMSCF (million standard cubic feet). The historical cumulative gas production stands at 40,863.8 MMSCF. The current estimated remaining recoverable reserves are approximately 60,000 MMSCF. Based on structural and seismic interpretation of the gas-bearing zone, the estimated Category C gas reserves are approximately 645 BCF (billion cubic feet).

     The Embassy in Trinidad and Tobago has expressed strong interest in the technological investments behind RRTL’s oil and gas project, its exploration efforts in complex geological environments, and its future natural gas development plans. The embassy has pledged its fullest support for the development of NEW JCM Group and its subsidiary RRTL in Trinidad and Tobago. RRTL’s successful operations in the country not only demonstrate the capability of Chinese energy enterprises to operate steadily in challenging overseas markets but also highlight the feasibility and sustainability of NEW JCM Group’s international strategy of "Three Hubs cover the global Market¹".

      As oilfield development progresses, natural gas business expands, and chemical projects advance strategically, NEW JCM Group, together with its subsidiary RRTL, is accelerating its transformation from a "Resource developer" to an "Energy solutions provider". Looking ahead, RRTL will continue to drive growth through innovation, guide investments with profitability, and establish a new model for China-Trinidad and Tobago (CTT) oil and gas cooperation.

[Note]: 1. "Three Hubs cover the global Market" refers to the strategy of NEW JCM Group, through its subsidiaries in Trinidad and Tobago, the United Arab Emirates and Kazakhstan, radiates to Central America, the Middle East and Central Asia, and thereby covers the global market.

（*The relevant data mentioned in this article shall be subject to the official annual report of our company.)