New oil reserves has been discovered of the coast of Trinidad and Tobago

Early last month BP and its Spanish partner Repsol announced that their joint venture, BP Trinidad and Tobago (BPTT), had made significant gas finds in fields off the coast of Trinidad. According to statements issued by both companies, BPTT’s Savannah and Macadamia exploration wells had identified approximately 2trn cu feet of gas reserves, which would underpin new development and exploitation operations in the blocs.

Trinidad and Tobago is the largest oil and gas producer in the Caribbean, with bountiful gas reserves fuelling the country’s economy since the 1990s. Nestled just 11km off the coast of North Eastern Venezuela, Trinidad and Tobago has been a petroleum producer for over a century, with cumulative production totaling over three billion barrels, according to government figures.

The initial strikes at the Macadamia and Savannah wells are only the beginning of a more extensive round of testing and development of new fields, according to Norman Christie, regional president for BPTT. “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,” Christie said when announcing the finds. “This is a testament to BPTT’s ongoing commitment to the development of our Trinidad and Tobago operations and the wider industry, and we look forward to the future portfolio drill-out.”

The number of BPTT’s offshore installations is also set to rise soon, with the company announcing that it had approved the construction and subsequent deployment of a 15th platform to bring its Angelin offshore gas project on-line. Located 60 km off Trinidad’s south-east coast, the Angelin field will be tapped by four wells and produce up to 600m standard cu feet per day, with production expected to begin in the first quarter of 2019. 

The Macadamia field should have an operational platform around 2020, while the Savannah field will be linked into the nearby Juniper platform when it comes on-line later this year, according to BPTT. Currently, BPTT has 14 offshore platforms and two onshore processing facilities, with leases covering 366,000 ha off the east coast of Trinidad.

BPTT’s president Norman Christie said the discoveries had been possible due to recent investments in state-of-the-art seismic acquisition and processing technology. “They show that that even after 55 years of operations the Columbus Basin still has more to give with the right technology being applied,” he said.