BP farms out deepwater blocks offshore Trinidad and Tobago

BP PLC has farmed out the majority interest of its two deepwater blocks offshore the east coast of Trinidad and Tobago to BHP Billiton Ltd., Melbourne. OGJ has confirmed that the deal was concluded just over a month ago and both companies have so far been tight lipped about it. However BP has now confirmed the deal in an e-mail response to questions from OGJ.

“BP confirms that it has completed negotiations with BHP Billiton about farming out an interest in deepwater Blocks TTDAA 14 and 23(a),” BP’s e-mail said.

BP went on to say that while the two companies had reached agreement, it was awaiting approval from Trinidad and Tobago’s Ministry of Energy and Energy Affairs. “While the two parties have reached agreement, they still await full approval of the arrangements from the Ministry of Energy and Energy Affairs,” BP told OGJ in its e-mail.

Should the deal be approved by the Caribbean twin-island nation’s government, it would mean that BHP Billiton will be the operator on all of the six deepwater blocks offered since 2011 as they have also been awarded the other four blocks that were signed in the last 2 years. BHP also has bid on two more blocks in the 2013 bid round, which is yet to be awarded.

It was in July 2011 that BP Exploration Operating Co. was awarded 100% interest and operatorship of Blocks 23(a) and TTDAA 14 offshore the east coast of Trinidad. Spanning 2,600 sq km, Block 23(a) lies in 2,000 m of water about 300 km northeast of BP’s Galeota Point onshore processing facility. The adjacent TTDAA 14 covers 1,000 sq km in similar water depths.

Trinidad and Tobago’s deep water is a frontier basin and has never been explored. All of the country’s oil and gas has been produced onshore or in shallow water on the continental shelf. BP is the island nation’s largest gas producer and Trinidad and Tobago accounts for 18% of BP’s total global production.

BHP Billiton is the operator of Angostura field. Greater Angostura field is in 36-46 m of water on the continental shelf, 37 km east of Trinidad and Tobago in the eastern Trinidadian sector of the eastern Venezuela basin.

Gross recoverable oil reserves are pegged at 90-300 million stb, with a mid-case or P50 volumes of 160 million stb.

The range of gross recoverable gas volumes is 1-2.3 tcf, with a mid-case volume of 1.75 tcf. On an oil equivalence basis, the mid-case resource is estimated at 450 million boe.

Related Articles

Tullow Oil provides production update on Jubilee, other fields

07/01/2015 Tullow Oil PLC reported that gross production for the Jubilee field offshore Ghana averaged 105,000 b/d in this year’s first half, up from 102,000 ...

OGJ Newsletter

06/29/2015

Security through change

06/29/2015

At the start of this month the US Army published its "Energy Security & Sustainability (ES2) Strategy" report. 

Mubadala starts production at Nong Yao in Gulf of Thailand

06/29/2015 Mubadala Petroleum, Abu Dhabi, started production on June 17 from its Nong Yao oil field in the G11/48 concession of the southern Gulf of Thailand.

Junex provides update on Galt oil property drilling

06/26/2015 Junex Inc., Quebec City, Que., said it is finalizing construction of the surface drilling pad for the Junex Galt No. 5 horizontal well that the com...

Lundin spuds three wells offshore Norway

06/24/2015 Lundin Norway AS, a wholly owned subsidiary of Lundin Petroleum AB, spudded three wells: its second Alta appraisal well in the Barents Sea, an appr...

WPX Energy adds to acreage in Gallup oil play

06/22/2015 WPX Energy Inc., Tulsa, has added to its San Juan Gallup acreage in New Mexico with the purchase of another 14,300 net acres from an undisclosed se...

YPFB Andina makes oil discovery in Bolivia’s Boqueron field

06/22/2015 YPFB Andina reported an oil discovery in Boqueron field in Bolivia’s Santa Cruz region. The Boqueron 4D well reached a total depth of 3,237 m and h...

Watching Government: Considering energy R&D

06/22/2015 Moving from research to development (R&D) became a recurring question as the US Senate Energy and Natural Resources Committee considered 43 sep...
White Papers

2015 Global Engineering Information Management Solutions Competitive Strategy Innovation and Leadership Award

The Frost & Sullivan Best Practices Awards recognise companies in a variety of regional and global...
Sponsored by

Three Tips to Improve Safety in the Oil Field

Working oil fields will always be tough work with inherent risks. There’s no getting around that. Ther...
Sponsored by

Pipeline Integrity: Best Practices to Prevent, Detect, and Mitigate Commodity Releases

Commodity releases can have catastrophic consequences, so ensuring pipeline integrity is crucial for p...
Sponsored by

AVEVA’s Digital Asset Approach - Defining a new era of collaboration in capital projects and asset operations

There is constant, intensive change in the capital projects and asset life cycle management. New chall...
Sponsored by

Transforming the Oil and Gas Industry with EPPM

With budgets in the billions, timelines spanning years, and life cycles extending over decades, oil an...
Sponsored by

Asset Decommissioning in Oil & Gas: Transforming Business

Asset intensive organizations like Oil and Gas have their own industry specific challenges when it com...
Sponsored by

Squeezing the Green: How to Cut Petroleum Downstream Costs and Optimize Processing Efficiencies with Enterprise Project Portfolio Management Solutions

As the downstream petroleum industry grapples with change in every sector and at every level, includin...
Sponsored by

7 Steps to Improve Oil & Gas Asset Decommissioning

Global competition and volatile markets are creating a challenging business climate for project based ...
Sponsored by
Available Webcasts


OGJ's Midyear Forecast 2015

When Fri, Jul 10, 2015

This webcast is to be presented by OGJ Editor Bob Tippee and Senior Economic Editor Conglin Xu.  They will summarize the Midyear Forecast projections in key categories, note important changes from January’s forecasts, and examine reasons for the adjustments.

register:WEBCAST


Predictive Analytics in your digital oilfield - Optimize Production Yield and Reduce Operational Costs

When Tue, Jul 7, 2015

Putting predictive analytics to work in your oilfield can help you anticipate failures, plan and schedule work in advance, eliminate emergency work and catastrophic failures, and at the same time you can optimize working capital and improve resource utilization.  When you apply analytic capabilities to critical production assets it is possible to reduce non-productive time and increase your yield.

Learn how IBM's analytics capabilities can be applied to critical production assets with the goal of reducing non-productive time, increasing yield and reducing operations costs.

register:WEBCAST



On Demand

Cognitive Solutions for Upstream Oil and Gas

Fri, Jun 12, 2015

The oil & gas sector is under pressure on all sides. Reserves are limited and it’s becoming increasingly expensive to find and extract new resources. Margins are already being squeezed in an industry where one wrong decision can cost millions. Analyzing data used in energy exploration can save millions of dollars as we develop ways to predict where and how to extract the world’s massive energy reserves.

This session with IBM Subject Matter Experts will discuss how IBM Cognitive Solutions contribute to the oil and gas industry using predictive analytics and cognitive computing, as well as real time streaming for exploration and drilling.

register:WEBCAST


The Alternative Fuel Movement: Four Need-to-Know Excise Tax Complexities

Thu, Jun 4, 2015

Discussion on how to approach, and ultimately embrace, the alternative fuel market by pulling back the veil on excise tax complexities. Taxes may be an aggravating part of daily operations, but their accuracy is crucial in your path towards business success.

register:WEBCAST


Emerson Micro Motion Videos

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected