Trinidad and Tobago: BP Announces Discovery of One Trillion Cubic Feet of Gas

abarrelfullabarrelfull wrote on 09 Aug 2012 13:38
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09 May 2001

BP Trinidad and Tobago (BPTT) today announced the discovery of one trillion cubic feet (tcf) of gas in reservoirs 2.5 miles east of the Flamboyant field, 42 miles off the east coast of Trinidad.

The gas was discovered in the Cashima 1 Well, the first of four exploratory wells planned by the company for 2001. The Cashima well, which was drilled to a total measured depth of 13,160 feet in 263 feet of water, completed operations today (9 May). The well encountered 520 feet of gas bearing sand in four pay horizons. The total gas and condensate discovered is in excess of 180 million barrels of oil on an energy equivalent basis.

Commenting on the discovery, BPTT Chairman, Robert Riley, said: "This find adds to our confidence in the rich gas resources that we believe are present off the east coast of Trinidad. It also continues to position this country for an important role as an exporter of natural gas products, as an industrial centre for gas-based industries and also ensures domestic energy needs are satisfied far into the future. Clearly, this discovery helps support the emergence of Trinidad and Tobago as a central player in the growing global gas economy.”

Larry Tiezzi, President of BPTT's Exploration Business Unit, said: "The Cashima discovery is one significant step toward our goal of discovering four tcf through exploration in 2001. This discovery builds on our proven track record and our 90% exploratory success rate for gas prospects.”

Notes:

Cashima 1 was the first of four exploration wells planned by BPTT for the year 2001. BPTT will drill two exploration wells on the shelf and one in deep water (Block 27). Drilling operations will re-start in third quarter, 2001.

BPTT's 2001 drilling programme also includes one other appraisal well in the Red Mango field.
Cashima 1 is a significant discovery by any measure used in the oil and gas industry. The well adds to the company's confidence that 100 tcf of gas will eventually be discovered off Trinidad's east coast.

One tcf of gas is enough to provide all of Trinidad and Tobago's electricity needs for 50 years at current usage.

To date a total of 35 tcf of gas has been discovered in Trinidad and Tobago: 23 proven and 12 probable and possible. BPTT's share in all categories is approximately 70%.


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