BP Talking To Trinidad, Venezuela About Opening Caribbean Gas Field.

BP’s gas production in Trinidad has dropped from more than 2.2 billion cubic feet per day (bcf/d) to approximately 1.2bcf/d. Credit: wasi1370 from Pixabay.
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British-based energy giant BP is in talks with the governments of Venezuela and Trinidad and Tobago regarding the development of a shared offshore gas field, Manakin-Cocuina, reported Reuters.

On Wednesday, BP president for Trinidad and Tobago, Sir David Campbell met with Trinidadian energy minister Stuart Young and Venezuelan oil minister Rafael Tellechea.

The British oil and gas “supermajor” is exploring opportunities in the cross-border region, as it would be trying to follow in the footsteps of Shell to extract natural gas mostly from Venezuelan waters while using Trinidad’s existing LNG export infrastructure.

The move is part of BP’s strategy to increase its natural gas production in Trinidad to feed into the Atlantic LNG liquefied natural gas (LNG) export facility.

BP was quoted by Reuters as saying in a statement: “BP can confirm that it is in discussions with the government of Trinidad and Tobago and the Bolivarian Republic of Venezuela on the potential development of gas resources in the Manakin-Cocuina field.”

Over the past five years, bp’s gas production in Trinidad has dropped from more than 2.2bcf/d to approximately 1.2bcf/d.

Situated along the maritime border of Venezuela and Trinidad, the Manakin-Cocuina field is estimated to hold more than 1tcf of natural gas.

Venezuela’s state-owned oil company, PDVSA, has expressed interest in the project through social media, indicating potential plans to grant exploration and development licences for the non-associated gas within its territory of the shared field.

Sources: Reuters, Offshore-technology.com, Forbes.com
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