BP: OKs $500M Angelin gas project offshore Trinidad

BP (BP -1.2%) says it will move ahead with the $500M development of its Angelin gas project offshore Trinidad and Tobago, as it seeks to offset declining production in the area.

The project includes four wells and will have a production capacity of ~600M cf/day of gas that will be tied into the Serrette platform through a new pipeline, and the gas then will be sold into the domestic market or exported via the Atlantic LNG terminal; first gas from the facility is expected in Q1 2019.

BP also announces two significant gas discoveries offshore Trinidad with the Savannah and Macadamia exploration wells, which unlocked ~2T cf of gas.

BP’s Trinidad production has been in steady decline in recent years, sliding to 309K boe/day in 2016 from 461K boe/day in 2010; Trinidad accounts for nearly 10% of BP’s global production.


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