FID for Trinidad’s Calypso field looms closer

FID for Trinidad’s Calypso field on horizon

PORT OF SPAIN, January 24, 2024 – BP has brought forward the date on its anticipated FID on Trinidad and Tobago’s deepwater Calypso field to as early as the end of 2025, Reuters reported on Tuesday.

The news was announced by a lead official on the sidelines of an energy conference in Port of Spain.

Previously, the company expected to reach its FID on the project in 2026.

The Calypso play is operated by Woodside Petroleum, with BP holding a 30% stake as partner.

The play holds estimated gas resources of 90.6 bcm (3.2 tcf) and production at the site is expected to reach 700 mcf per day.

The development is among a slew of major upstream projects anticipated for Trinidad and Tobago.

Shell is looking up gas production from its upcoming plays near Venezuela including 700 mcf per day expected from its Manatee offshore discovery by 2028 and 250 mcf per day expected from the Dragon field in 2026 that will be jointly exploited with the Venezuelan government.

BP is currently Trinidad and Tobago’s largest gas producer, with an average production in 2022 of 1.2 billion bcf per day.

Read our latest interview with Juan Vázquez, then-Woodside Energy’s Trinidad and Tobago president and country manager, on the potential of the Calypso field.

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