BP uncovers large offshore gas reserves in the Carribbean

BP uncovers large offshore gas reserves in the Carribbean

BP’s (LSE:BP) Trinidad & Tobago division (BPTT) has announced the discovery of two large-scale gas reserves in exploration wells off the coast of Trinidad.

The Savannah exploration well was drilled in water depths of over 500 feet along with the Macadamia well, with the results confirming around 2 trillion cubic feet (tcf) of gas in place across both wells.

The British oil giant said it expects to develop the resovoirs in the Savannah well via future tieback to the Juniper platform, which is due to come online by mid-2017.

BPTT also expect the hydrocarbon-bearing reservoirs in the Macadamia well to support a new platform in the region at some point before 2020.

Norman Christie, regional president for BPTT said: “This is exciting news for both bpTT and the industry, as these discoveries are the start of a rejuvenated exploration program on the Trinidad shelf.”

BPTT has a 100% working interest in the Savannah and Macadamia wells.

@RGNonline