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BP doubles gas estimate in Caribbean

Nov. 20, 2012 at 6:19 AM   |   Comments

PORT OF SPAIN, Trinidad and Tobago, Nov. 20 (UPI) -- British energy company BP announced it doubled the estimated gas available offshore Trinidad with its latest 1 trillion-cubic-foot discovery.

Subsidiary BP Trinidad and Tobago estimated the amount of gas available at the offshore Savonette gas field stood at 2 trillion cubic feet after its latest discovery.

The company drilled the Savonette 4 appraisal well in about 300 feet of water about 50 miles off the southeastern coast of Trinidad. Early production rates at the appraisal well reached 250 million cubic feet per day. BP's regional subsidiary said it aims to bring two more development wells into production within 18 months.

Norman Christie, president of the subsidiary, said this latest find is the company's largest discovery since 2005.

In May, the company said it produced, on average, 408,000 barrels of oil equivalent per day last year from its roughly 1,350 square miles worth of assets in Trinidad and Tobago. BP said it's the largest producer of hydrocarbons in the country, which accounts for about 12 percent of the company's global production.

Trinidad and Tobago is one of the major energy producers in the Caribbean.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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