BHP announced in its operational review that the Ruby project in Trinidad is on schedule and budget.
The Ruby project is intended to be five production wells tied back into existing operated processing facilities, with capacity to produce up to 16,000 gross barrels of oil per day and 80 million gross standard cubic feet of natural gas per day.
The project will bring relief to the decline in oil production in T&T. The latest data from the Ministry of Energy and Energy Industries, states that national production in T&T is just over 56,000 barrels of oil per day.
BHP has indicated that the Ruby project is now 62% complete. The project is expected to be completed in CY21.
The capital expenditure on the Ruby project is expected to be US$283m (approximately TT$1.8b )
Deepwater Update
In the operational review, the company has confirmed that the drilling of the Broadside well drilled in late 2020 was a dry hole. BHP indicated that the exploration well in the Southern Licence reached the main reservoir on 22 October 2020 and did not encounter hydrocarbons. The well was a dry hole and was plugged and abandoned on 8 November 2020. The results are under evaluation to determine next steps on the Southern Licences.
The well was drilled by the Transocean Deepwater Invictus.