BHP recently released their operational review for 2019. According to the report, in Q4 2019, the company completed the exploration programme on the Trinidad and Tobago Northern Licenses.
Evaluation and development planning studies of the discoveries in the north are ongoing and will inform the company’s future appraisal programme.
Geraldine Slattery, President Operations, Petroleum BHP previously provided significant details on BHP’s potential deepwater developments in Trinidad and Tobago. It was reported in November 2019 that the company declared a 3.5 tcf (gross) discovery with potential further upside.
While the development planning studies of the discoveries in the north are ongoing, a spokesperson for the company has indicated that BHP is also evaluating a deep test in the Southern Licenses planned for 2020.
Further, it was indicated that one exploration well will be drilled in the Southern Licenses in 2020.
Apart from the deepwater licenses, BHP has indicated that it has approved US$283 million (BHP share) in funding to develop the Ruby Project in Trinidad and Tobago.
First production is expected in the 2021 calendar year and is estimated to increase production by 16,000 barrels of oil per day (bop/d) and 85 million standard cubic feet per day (MMscf/d) gross at its peak. Production from this development is expected to significantly increase current oil production rates in the country. At present, oil production in Trinidad and Tobago is less than 60,000 bopd.
BHP has indicated that the Ruby development continues on track to a scheduled completion in the second half of 2021.
The project is being executed by BHP, along with collaborators, NGC and Heritage Petroleum in Block 3(a), as well as the Ministry of Energy and Energy Industries. 2020 is expected to be a busy year for the company with offshore construction and installation activities commencing towards the middle of the year and drilling commencing during the second half.
The company indicated that it has awarded contracts for the project to approximately 40 local energy services companies or the local entities of multinational companies and committed to nearly TT$600 million in work through these local entities.