BPTT announces finds, Angelin green light

PORT OF SPAIN, June 2, 2017 – BP Trinidad and Tobago (BPTT) enters June with a flurry of activity. On Friday, the company not only announced two discoveries at the Macadamia and Savannah exploration wells, but also the sanctioning of the long-anticipated Angelin development following months of negotiations.

The Macadamia and Savannah assets are estimated to hold around 2 tcf [56.6 bcm] of natural gas. Drilled in some 500 metres of water, the Savannah well is located 80 kilometres off Trinidad and Tobago’s southeast coast.

Characterised as a test-exploration well, Macadamia was drilled 10 kilometres south of the Cashima field yielding around 180 metres of net pay after encountering seven different hydrocarbons reservoirs during drilling.

BPTT, which holds a 100% interest in both assets, plans to develop the Savannah well via a tieback to the Juniper platform, which is expected to come online in 2017. The company plans to develop the Macadamia well through a new platform by 2020.

With an anticipated production capacity of around 17 mcm (600 mcf) of natural gas per day, the four-well Angelin development is expected to begin drilling activities in Q3 2018. First gas is expected in Q1 2019.

“We are pleased to be able to announce the sanction of the Angelin project which was made possible due to the execution of a new gas sales contract with the National Gas Company. I would like to recognise NGC for the spirit of co-operation they brought to the negotiating table and working to ensure that the new agreement would benefit the entire gas value chain,” BPTT regional president Norman Christie said in a statement.

The aforementioned discoveries and development support BPTTs recently reaffirmed commitment to Trinidad and Tobago. Earlier in 2017, the company announced that it would invest at least USD 5 billion in the country through 2020. It has earmarked USD 1.7 billion in 2017 alone for hydrocarbons development.

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