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 awards double the acreage held by BP-controlled companies in Trinidad and Tobago. BPTT holds exploration and production licenses covering 904,000 acres in areas off Trinidad and Tobago's east coast.
Its total production averages 450,000 boe/d, comprised mainly by natural gas and natural gas liquids.
Bob Dudley, BP group chief executive, said the awards mean that BP has gained access to 31 new upstream blocks across the world since July 2010, which is "a significant step-up in new access."
Block 23(a), which lies 300 km northeast of BPTT's Galeota Point operations base, covers 2,600 sq km in 2,000 m of water.
Block 14, which lies next to Block 23(a), covers a further 1,000 sq km also in 2,000 m of water.
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