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  4. bpTT, EOG join forces on Coconut gas development

bpTT, EOG join forces on Coconut gas development

Release date:
27 August 2024
           

What’s Happening

 

bp Trinidad and Tobago (bpTT) and EOG Resources Trinidad Limited (EOG) have agreed to partner on the Coconut gas development. Coconut will be a 50/50 joint venture with EOG as operator. The final investment decision has been taken by the joint venture partners and first gas is expected in 2027.

 

The Coconut field is located off the southeast coast of Trinidad in the Columbus Basin and was discovered in 2005 by bpTT in a water depth of 260 feet.

 

This partnership for the Coconut development is part of bpTT's strategy to grow its gas business and unlock the energy future of Trinidad and Tobago. Strategic partnerships are an important component of this strategy, as they allow bpTT to increase the competitiveness of its projects, accelerate resource progression, grow its business and continue to deliver value to bp and to the country.

 

David Campbell, bpTT president said: “I am excited by the possibilities that exist and the value that we can unlock by continuing to leverage the power of strategic partnerships. This partnership will allow us to accelerate production from the Coconut field, while giving us the space to progress our Ginger field development and other gas growth opportunities, at a faster pace. We are accelerating gas growth while remaining focused on returns to achieve a higher value Trinidad business - one with clear line of sight to material high margin growth over the next several years”


More on bpTT/EOG JV developments

 

Coconut is the latest development being delivered through a joint venture between bpTT and EOG. Previous developments were:

  • EMZ  - 2011
  • Sercan – 2016
  • Banyan – 2017
  • Mento – to be brought online 2025

 

Notes to editors:  

  • bp's key operations in Trinidad involves approximately 680,000 acres off Trinidad’s east coast. bp Trinidad and Tobago operates 16 offshore platforms and two onshore processing facilities. 

 

Further enquiries

 

bp Press Trinidad (868) 793-3374, bptt@bp.com

 

Cautionary statement: 
In order to utilize the ‘safe harbor’ provisions of the United States Private Securities Litigation Reform Act of ‎‎1995 (the ‘PSLRA’), bp is providing the following cautionary statement. This press release contains certain ‎forward-looking statements – that is, statements related to future, not past events and circumstances – ‎which may relate to one or more of the financial condition, results of operations and businesses of bp and ‎certain of the plans and objectives of bp with respect to these items. These statements are generally, but not ‎always, identified by the use of words such as ‘will’, ‘expects’, ‘is expected to’, ‘aims’', ‘should’, ‘may’, ‎‎‘objective’, ‘is likely to’, ‘intends’, ‘believes’, ‘anticipates’, ‘plans’, ‘we see’ or similar expressions. Actual ‎results may differ from those expressed in such statements, depending on a variety of factors including the ‎risk factors set forth in our most recent Annual Report and Form 20-F under “Risk factors” and in any of our ‎more recent public reports.‎ Our most recent Annual Report and Form 20-F and other period filings are available on our website at ‎www.bp.com, or can be obtained from the SEC by calling 1-800-SEC-0330 or on its website at www.sec.gov.‎   


 – ENDS –  

 

BP Privacy Statement  https://www.bp.com/en/global/corporate/news-and-insights/press-releases/privacy-statement-press.html