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

Petrobras confirms extent of Farfan area discovery, finds reservoir

02/02/2015 The drilling of a third extension well in the Farfan area in the ultradeepwater Sergipe basin confirmed the extent of the 2013 light oil and gas di...

Antero trimming, delaying Marcellus drilling

02/02/2015 Antero Resources Corp., Denver, has announced a $1.8 billion budget for 2015, which is down 41% from 2014. The independent said it plans to defer c...

Fluid typing extends production in Chinese gas reservoir

02/02/2015 Comprehensive evaluation and classified recognition (CECR) of fluid typing and zonation (FTZ) is a prerequisite for developing multilayer sandstone...

Santos acquires interest in block offshore Malaysia

02/02/2015 Santos Ltd. has acquired 20% interest in a deepwater permit offshore Sabah, Malaysia. The company will take 10% from each of Japan’s Inpex and oper...

Mud volcanoes show gas hydrates potential in India's Andaman Islands

02/02/2015 Minutes after the M9.0 Sumatra-Andaman earthquake in 2004, mud volcanoes erupted on Diglipur Island in North Andaman. The eruptions resulted in an ...

OGJ Newsletter

02/02/2015

International news for oil and gas professionals

The ANWR blitz

02/02/2015 Deception begins with a 58-sec video on the White House web site in which President Barack Obama says he'll ask Congress to make the whole Arctic N...

BHP to drill first deepwater well off Trinidad in 2016, energy minister says

01/30/2015 BHP Billiton and its partner BP PLC will drill their first well in Trinidad and Tobago’s deep water in 2016 according to the Caribbean twin-island ...

Pennsylvania governor reinstates state forest drilling moratorium

01/29/2015 Pennsylvania Gov. Tom Wolf (D) signed an executive order fully reinstating a 2010 moratorium on new oil and gas leases in state forests and parks. ...
White Papers

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

The impact of aging infrastructure in process manufacturing industries

Process manufacturing companies in the oil and gas, utilities, chemicals and natural resource industri...
Sponsored by

What is System Level Thermo-Fluid Analysis?

This paper will explain some of the fundamentals of System Level Thermo-Fluid Analysis and demonstrate...

Accurate Thermo-Fluid Simulation in Real Time Environments

The crux of any task undertaken in System Level Thermo-Fluid Analysis is striking a balance between ti...

6 ways for Energy, Chemical and Oil and Gas Companies to Avert the Impending Workforce Crisis

As many as half of the skilled workers in energy, chemical and oil & gas industries are quickly he...
Sponsored by
Available Webcasts


Prevention, Detection and Mitigation of pipeline leaks in the modern world

When Thu, Apr 30, 2015

Preventing, detecting and mitigating leaks or commodity releases from pipelines are a top priority for all pipeline companies. This presentation will look at various aspects related to preventing, detecting and mitigating pipeline commodity releases from a generic and conceptual point of view, while at the same time look at the variety of offerings available from Schneider Electric to meet some of the requirements associated with pipeline integrity management. 

register:WEBCAST



On Demand

Global LNG: Adjusting to New Realities

Fri, Mar 20, 2015

Oil & Gas Journal’s March 20, 2015, webcast will look at how global LNG trade will be affected over the next 12-24 months by falling crude oil prices and changing patterns and pressures of demand. Will US LNG production play a role in balancing markets? Or will it add to a growing global oversupply of LNG for markets remote from easier natural gas supply? Will new buyers with marginal credit, smaller requirements, or great need for flexibility begin to look attractive to suppliers? How will high-cost, mega-projects in Australia respond to new construction cost trends?

register:WEBCAST


US Midstream at a Crossroads

Fri, Mar 6, 2015

Oil & Gas Journal’s Mar. 6, 2015, webcast will focus on US midstream companies at an inflection point in their development in response to more than 6 years shale oil and gas production growth. Major infrastructure—gas plants, gathering systems, and takeaway pipelines—have been built. Major fractionation hubs have expanded. Given the radically changed pricing environment since mid-2014, where do processors go from here? What is the fate of large projects caught in mid-development? How to producers and processors cooperate to ensure a sustainable and profitable future? This event will serve to set the discussion table for the annual GPA Convention in San Antonio, Apr. 13-16, 2015.

This event is sponsored by Leidos Engineering.

register:WEBCAST


The Future of US Refining

Fri, Feb 6, 2015

Oil & Gas Journal’s Feb. 6, 2015, webcast will focus on the future of US refining as various forces this year conspire to pull the industry in different directions. Lower oil prices generally reduce feedstock costs, but they have also lowered refiners’ returns, as 2015 begins with refined products priced at lows not seen in years. If lower per-barrel crude prices dampen production of lighter crudes among shale plays, what will happen to refiners’ plans to export more barrels of lighter crudes? And as always, refiners will be affected by government regulations, particularly those that suppress demand, increase costs, or limit access to markets or supply.

register:WEBCAST


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