00:00Energy Minister Dr. Rudal Mounilal has congratulated the BP, Trinidad and Tobago team on their successful completion of the SIP project, a subsea development made of seven wells tied back into BPTT's existing Juniper platform.
00:14We are extremely pleased with the development. The energy sector remains integral to our economy and resources from the SIP project play an important role in strengthening our natural gas supply.
00:24BPTT announced on Thursday that it has safely completed the SIP seven-well drilling program following delivery of first gas in April 2025.
00:34BPTT said four wells in the SIP development were drilled and completed at the end of 2024 and that the project team has now drilled, completed and commissioned the remaining three wells.
00:45BPTT said that at peak, SIP is projected to deliver approximately 45,000 barrels of oil equivalent per day or approximately 250 million standard cubic feet of natural gas a day.
00:59SIP is BPTT's third subsea development.
01:02We're extremely pleased that this phase two, which was originally scheduled for 2026, was able to come online ahead of schedule.
01:13In a written statement, Dr. Mounilal said ahead of schedule is the new norm under the second administration of Prime Minister Kamala Passat-Bassassar.
01:22This development is particularly pleasing to us since it dates back to the incentive framework provided by the People's Partnership Administration in 2014 with the passage of the Finance Act that allowed for the accelerated capital allowances for exploration.
01:39Opposition MP and former Prime Minister Stuart Young extended congratulations to BPTT on the latest phase of SIP being completed safely.
01:48On his Facebook page on Thursday, Mr. Young, who is also a former Minister of Energy, said this augurs well for Trinidad and Tobago's gas production, replacing some of the ongoing natural gas decline taking place.
01:59MP Young said this was negotiated and a final investment decision taken between 2017 and 2023 in reference to the former PNM administration.
02:10MP Young said the former PNM administration, which was mostly led by former Prime Minister Dr. Keith Rowley, negotiated this project with BP and thankfully they were able to ensure it with first gas production starting on April 3, 2025.
02:25MP Young said it was a proud day when they visited the ships that came to lay the pipelines for SIP in November 2024.
02:35As Energy Minister Munilal spoke of a former UNC-led government's establishment of the legal framework for attracting and incentivizing investment, he said he looks forward to continued investment in Trinidad and Tobago's energy sector by BP and other multinational companies.
02:51BPTT quoted its president, David Campbell, as having said SIP is the latest achievement in a year of strong delivery for BP, including the BP-operated Franjapani Gas Discovery and working with their joint venture partner, EOG, to deliver first gas from the Mento major project.
03:09Mr. Campbell said BP looks forward to continuing their collaboration with the government and other stakeholders to unlock Trinidad and Tobago's energy future.
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