bpTT & EOG WORKING TOGETHER ON GAS FIELD IN T&T

CCNTV6

bpTT is to partner  with EOG Resources to develop a natural gas field off the southeast coast of Trinidad.  The announcement was made on Monday.  bpTT says "first gas" from the project  is expected in 2027.  Juhel Browne reports.

Transcript

00:00BP Trinidad and Tobago, BPTT, announced on Monday that it has agreed to partner with

00:06EOG Resources Trinidad Limited, EOG, on the coconut natural gas development.

00:13In a media statement, BPTT said the coconut field is located off the southeast coast of

00:18Trinidad in the Columbus Basin and was discovered in 2005 by BPTT in a water depth of 260 feet.

00:29BPTT further said Coconut will be a 50-50 joint venture with EOG as operator.

00:36Trinidad and Tobago has been experiencing a shortfall in natural gas production in recent

00:41years.

00:42Natural gas is used by the Atlantic LNG plant in Point 14 to produce liquefied natural gas

00:48for export.

00:49Natural gas is also used by the plants at the Point Lisa's Industrial Estate, which

00:53produce other downstream gas products for export such as ammonia, methanol, urea and

00:59propane.

01:01Natural gas is also used for the production of electricity in Trinidad and Tobago.

01:06BPTT said its partnership for the coconut development with EOG is part of BPTT's strategy

01:12to grow its gas business and unlock the energy future of Trinidad and Tobago.

01:18BPTT quoted its President David Campbell as having said that he is excited by the possibilities

01:23that exist and the value BPTT can unlock by continuing to leverage the power of strategic

01:30partnerships.

01:31Mr Campbell said this partnership will allow for the accelerated production from the coconut

01:36field, while giving BPTT the space to progress its ginger field development and other gas

01:43growth opportunities at a faster pace.

01:47Mr Campbell also said BPTT is accelerating gas growth while remaining focused on returns

01:53to achieve a higher value Trinidad business, one with a clear line of sight to material

02:00high margin growth over the next several years.

02:03BPTT said the final investment decision has been taken by the joint venture partners and

02:09first gas is expected in 2027.

02:13BPTT said its key operations involve approximately 680,000 acres off Trinidad's east coast and

02:22operates 16 offshore platforms and two onshore processing facilities.

02:28Jule Brown, TV6 News.

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