BP starts up major gas projects in Australia and Trinidad

BP starts up major gas projects in Australia and Trinidad

BP (LSE:BP) has confirmed that two of its upstream gas projects in Australia and Trinidad have come online, the fourth and fifth of seven major project start-ups expected over the course of the year.

First production was achieved at the Persephone project off the coast of Western Australia as well as the Juniper project off the Southeast coast of Trinidad, which began on schedule and under budget.

Persephone is operated by Australian oil and gas firm Woodside Energy under the North West Shelf Project joint venture, and will produce around 48 million cubic feet (mcf) of gas per day for the British oil major.

Meanwhile, Juniper is the largest such project to come online in Trinidad for several years, and should boost BP Trinidad and Tobago’s (BPTT) gas production capacity by around 590 mcf per day.

“This is a significant year for BP and, with five of our seven planned major projects now onstream, delivery of our plan is firmly on track,” said BP group chief executive Bob Dudley.

“Importantly, these new projects, with their lower development costs and higher margins, also further improve BP’s resilience to the price environment.”

@RGNonline