Business
Trinidad: BP, BG Trinidad and Tobago and Govt sign exploration deal
(Trinidad Express) – Energy giants BP and BG Trinidad and Tobago yesterday signed three production sharing contracts (PSCs) for oil and gas exploration as a culmination of last July’s deep water energy bid round. The signing ceremony took place at the Carlton Savannah Hotel, St Ann’s, yesterday.
“Today, we open a new chapter with BP as we commence work in Blocks 23(a) and TTDAA 14, both of which are in the deep water in excess of 1,000 metres,” Energy Minister Kevin Ramnarine said yesterday.
He said the companies’ commitment to the country was evidenced by this signing.
“Collectively, both companies supply about 85 percent of all the natural gas consumed in this country and are two of the country’s largest taxpayers,” he said.
Ramnarine said it was “no secret” the Energy Ministry recently launched another deep water bid round.
“This opened on April 5, 2012 and was launched three weeks ago. Interest in this bid round has been keen and already companies have made payments for data packages,” he said.
Norman Christie, president of BP in Trinidad and Tobago, yesterday said these frontier blocks were over a new exploration area for BP and the country.
