BP joint venture bpTT has been awarded the NCMA 2 shallow-water natural gas block offshore Trinidad, the company announced on Tuesday.
The PSA covers both exploration and production in the block.
NCMA 2, located around 48 kilometres off Trinidad’s north coast and lying in water depths of around 200 metres, opens a new area of exploration for the energy giant in the country, as all of its current production comes from the Columbus Basin off Trinidad’s east coast.
Trinidad and Tobago’s government is making efforts to address the gas shortages that have hampered industry in the country for years. The shortages have affected the petrochemicals sector in particular, as well as forcing the flagship 15-million-tpy Atlantic LNG plant to idle one of its four trains since 2020.
“Continued exploration activity is crucial for sustaining our industry and I am very pleased that we have secured this block,” bpTT president David Campbell said.
“The NCMA area is new to bp in T&T and I am looking forward to maximising its potential. Although geographically new to us, we will be able to draw on our 50-plus years of exploration experience in Trinidad and Tobago.”
In a press release, bpTT said the acquisition is part of BP’s Trinidad strategy of accessing new basins while maximising production in existing acreage.
bpTT is a joint venture between BP (70%) and Repsol (30%).
Photo of Minister of Energy and Energy Industries the Hon. Stuart R. Young, S.C., and bpTT president David Campbell courtesy of bpTT.
Source: By theenergyyear.com