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BP gains blocks off Trinidad and Tobago

08/01/2011
Curtis Williams OGJ Correspondent BP PLC unit BP Trinidad & Tobago (BPTT) reported it was awarded two deepwater exploration and production blocks by the Trinidad and Tobago government. BPTT was awarded 100% interest in Blocks 23(a) and Block 14, both in deepwater frontier acreage off Trinidad and Tobago's eastern coast, under production-sharing contracts. BPTT was a sole bidder for Block 14; the firm beat out bids from Niko Resources and a consortium of BHP Billiton, Repsol-YPF SA, and Total SA for Block 23(a). BPTT's Trinidad and Tobago operations account for more than half of the Caribbean twin-island nation's natural gas output and 12% of BP's global oil and gas production. The awa...
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