Published on 28 May 2024 on Zacks via Yahoo Finance
BP and EOG Resources to Develop Major Trinidad Gas Field by 2026
BP plc (BP), the UK-headquartered energy giant, and U.S. shale producer EOG Resources, Inc. EOG are reportedly in talks to develop a significant natural gas field off the coast of Trinidad and Tobago. The British oil major confirmed the discussions, highlighting the field’s potential to enhance its natural gas portfolio, per a Reuters report.
The field holds nearly 1 trillion cubic feet (tcf) of natural gas. However, plans are in place to integrate it with another BP discovery in the area, bringing the total potential development to 1.5 tcf. According to the report, the initial production of gas, known as "first gas," is anticipated by late 2026. This output is expected to supply Trinidad's premier liquefied natural gas (LNG) facility, Atlantic LNG, wherein BP and Shell hold a 45% equity stake each.