bpTT awarded NCMA 2 exploration block
Written by Ryan Hamilton-Davis on November 19, 2024
Oil and gas giant bpTT has been awarded the NCMA 2 block, located 30 miles off Trinidad’s north coast, as part of the shallow water 2023/2024 bid round, which closed in May.
In a release on November 19, bpTT said the award of the block is the latest demonstration of its strategy for TT to access new basins while maximising production in its existing acreage.
“Continued exploration activity is crucial for sustaining our industry and I am very pleased that we have secured this block,” said bpTT president David Campbell.
He said while the block is new to bpTT, the company’s experience will help it bring results.
Minister of Energy Stuart Young in a separate release said the ministry continues to aggressively market and promote exploration and investment in upstream energy companies.
“This marks the second production sharing contract (PSC) signed in record time in 2024,” he said.
The ministry signed a PSC with BG International Ltd (BGI), a subsidiary of Shell, for Block Modified U (c), another block auctioned at the shallow water bid round, in September.
The release said the award of the block will open a new area of exploration for bp in TT, as all current production comes from the Columbus Basin off the east coast.
Last week, the Prime Minister toured the latest oil platform, the Mento, at the Trinidad Offshore Fabricators Unlimited (TOFCO) fabrication yard in La Brea.
The platform is in the final stages of construction and will go to the southeast coast of Trinidad, in a joint exploration and production exercise between bpTT and EOG. The first gas is expected in 2025.
The post bpTT awarded NCMA 2 exploration block appeared first on Trinidad and Tobago Newsday.
