13 April 2017 – BP Trinidad and Tobago LLC (bpTT) today announced the start-up of the Trinidad onshore compression (TROC) project – one of seven major upstream projects BP expects to bring online in 2017.
Full start-up will take place over the next few months. When fully onstream, the onshore compression facility will have the potential to deliver approximately 200 million standard cubic feet of gas per day. The facility is expected to improve production capacity by increasing production from low-pressure wells in bpTT’s existing acreage in the Columbus Basin using an additional inlet compressor at the Point Fortin Atlantic LNG plant.
Bernard Looney, chief executive of BP’s upstream business, said: “Delivered on-time and on-budget, this major infrastructure project is part of BP’s plan to bring 500,000 barrels a day of new production capacity online by the end of 2017 and paves the way for Juniper, our other major project start-up in Trinidad and Tobago this year.”
BP Trinidad and Tobago regional president Norman Christie commented: “BPTT thanks and congratulates the government, contractors, partners and other stakeholders that came together to safely bring the TROC project to mechanical completion. The TROC project is a clear example of bpTT, the government and many key players in the oil and gas industry cooperating to improve production capacity, which will benefit both the petrochemical plants and Atlantic. Though start-up will be phased, we anticipate an improvement in gas production in 2017 as a result of TROC and the planned start-up of Juniper later this year.”
The plant is 100% funded and owned by bpTT. Atlantic LNG Company of Trinidad and Tobago will serve as the operator. The project was sanctioned in July 2016 following agreements between Atlantic shareholders, the National Gas Company of Trinidad and Tobago and other directly impacted upstream operators.
BP Trinidad and Tobago operates in 904,000 acres off Trinidad’s east coast. BP Trinidad and Tobago has 13 offshore platforms and two onshore processing facilities.
The Juniper facility will take gas from the Corallita and Lantana fields located 50 miles off the south east coast of Trinidad in water-depth of approximately 360 feet. Drilling of the five subsea Juniper wells by the Diamond Ocean Victory semi-submersible rig commenced in May 2015. First gas from the facility is expected in 2017. Gas from Juniper will flow to the Mahogany B hub via a new 10 kilometre in-field flowline which was installed in 2016.
In order to utilize the ‘safe harbor’ provisions of the United States Private Securities Litigation Reform Act of 1995 (the ‘PSLRA’), BP is providing the following cautionary statement. This press release contains certain forward-looking statements concerning BP’s plans and expectations with respect to the start-up and operations of the TROC facility, including the timing thereof and the potential of the facility to deliver approximately 200 million standard cubic feet of gas per day; plans and expectations with respect to the start-up and operation of the Juniper project and the timing thereof; expectations that gas production will improve in 2017 as a result of the TROC and Jupiter projects; and plans and expectations to bring online seven upstream projects with 500,000 barrels a day of new production capacity in 2017. Actual results may differ from those expressed in such statements, depending on a variety of factors including changes in public expectations and other changes to business conditions; the timing, quantum and nature of divestments; the receipt of relevant third-party and/or regulatory approvals; future levels of industry product supply; demand and pricing; OPEC quota restrictions; PSA effects; operational problems; regulatory or legal actions; economic and financial conditions generally or in various countries and regions; political stability and economic growth in relevant areas of the world; changes in laws and governmental regulations; exchange rate fluctuations; development and use of new technology; the success or otherwise of partnering; the actions of competitors, trading partners and others; natural disasters and adverse weather conditions; wars and acts of terrorism, cyber-attacks or sabotage; and other factors discussed under “Risk factors” in our Annual Report and Form 20-F 2016.