Trinidad and Tobago
In 2017, our presence
in Trinidad and Tobago was focused
on our Upstream business
- Production / development
As of December 31st, 2017, we have owned mineral rights to four offshore production/development blocks in Trinidad and Tobago (net surface area of 1,121 km2), which include 30% of the company bpTT's offshore exploration and production assets in Trinidad and Tobago.
Net production for the year totaled 1.3 mbbl of liquids and 217.4 bscf of natural gas, with an equivalent net production of 40.0 mboe (109.534 boe/d). As of December 31st, 2017, net proved oil and natural gas reserves were estimated at 283.9 mboe.
- On June 6th, an important gas discovery with the Savannah and Macadamia wells was announced on the coast of Trinidad and Tobago. This discovery was made in bpTT's East Block in the Columbus basin to the east of Trinidad at a water depth of 150 meters. Repsol has a 30% working interest in the consortium that made the discovery, bpTT, with BP holding the remaining 70%. Preliminary estimates set resources at around 2 trillion cubic square feet of gas.
- In August, gas production began at the Juniper field, bpTT's assets in Trinidad and Tobago where Repsol has a 30% working share.
- In the second quarter of 2017, the Trinidad and Tobago authorities gave the go-ahead to the Angelin project to be developed by bpTT, in which Repsol holds a 30% working interest. This field is located in the West Block, 60 kilometers off the coast of Trinidad. Production is set to start up in the first quarter of 2019.
Net surface area
of mineral rights
Information on net production, net proved reserves, and mineral rights
as of December 31st, 2017