Could Trinidad And Tobago USA Become A Hotspot For Oil In The Caribbean?

BHP has commenced oil production in Trinidad and Tobago USA in the next big energy development in the Caribbean. There is a recent success in Guyana and Suriname’s energy sectors. Australian firm BHP has begun production on its $500m Ruby Project. It is located in shallow water in Block 3(a) within the Greater Angostura Field.

The project will see gas and oil production from the Ruby and Delaware reservoirs. This is via five production wells offshore Trinidad and Tobago USA. Several more wells are expected to be drilled in the area by the end of the year.

There is an expectation of Peak production levels that is around 16,000 BPD of oil.

Additionally, 2.26mn m³/d of gas, upon completion of the development.

Geraldine Slattery, President of BHP, stated “The start-up of Ruby represents the continued development of BHP’s oil and gas production facilities in Trinidad and Tobago, re-enforces the quality of the resource and its investment competitiveness.”

BHP will operate the Ruby development holding a 68.46 percent stake, with the National Gas Company of Trinidad and Tobago (NGC) holding a 31.54 percent stake.

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Source: Oil Price

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