BPTT excited about long-term future - VP
Release date:
04 October 2011
BPTT is excited about a long-term future in Trinidad and Tobago, said Vice President, Resource Keith Bally on Tuesday at the Energy Caribbean conference.
Bally’s presentation was titled “BP – maximizing incumbency in Trinidad and Tobago beyond 2018”.
“We are at the point in our history at which we can leverage our knowledge and expertise to create a long-term future,” he said.
BPTT has over 30 years’ experience in Trinidad and Tobago. The company now operates 13 platforms and produces about 420,000 barrels of oil equivalent a day.
Globally, the natural gas industry will continue to grow over the long-term. In fact, according to the BP Outlook, natural gas is expected to be the fastest growing fossil fuel up to 2030. “The implications of this outlook are that there are long-term opportunities for natural gas,” Bally said. “This is good news for a natural gas producer like Trinidad and Tobago.”
Bally said that bpTT has laid out a long-term strategy that uses a combination of its knowledge of Trinidad’s geology, access to BP global technology and building local expertise.
An example of this approach is upcoming Ocean Bottom Seismic Survey which bpTT intends to begin this year. This survey will use new technology to take another look at areas where previous seismic imaging was not as robust.
Bally also noted that bpTT is excited about the deepwater blocks which were awarded earlier this year. The company is still in negotiations with Government to finalise the production sharing contract.
“As a major stakeholder in the local energy sector, bpTT sees a bright future ahead in Trinidad and Tobago,” Bally said. “We are optimistic that our current thinking will enable bpTT to build on its experience and maintain the company and Trinidad and Tobago, long into the future, with even greater success.”
Further information:
Name: Danielle Jones
Office: +1 868 497 4747
Location: bpTT
Office: +1 868 497 4747
Location: bpTT
Name: Luis Araujo
Office: +1 868 623 2862 ext 5355
Location: bpTT
Office: +1 868 623 2862 ext 5355
Location: bpTT
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