BP invests $12bn in two new energy projects

An agree­ment be­tween BP T&T (bpTT) and the Gov­ern­ment will see the en­er­gy com­pa­ny in­vest­ing some US$1.8 bil­lion (TT$12 bn) in two new en­er­gy projects.

The agree­ment, signed last Fri­day, en­tailed the ex­ten­sion of the South East Ga­le­o­ta Ex­plo­ration & Pro­duc­tion li­cence and will al­so see bpTT be­gin the off­shore in­vest­ments of the Cas­sia Com­pres­sion Project as well as the Mat­a­pal Gas Project. The Mat­a­pal Gas Project is ex­pect­ed to de­vel­op the gas re­sources dis­cov­ered by bpTT in 2017.

The sign­ing of the agree­ment was wit­nessed by Prime Min­is­ter Dr Kei­th Row­ley, Min­is­ter of En­er­gy and En­er­gy In­dus­tries Franklin Khan and Re­gion­al Pres­i­dent of bpTT Claire Fitz­patrick, at the Of­fice of the Prime Min­is­ter in St Clair.

The sign­ing of the agree­ment con­clud­ed the first phase of this coun­try’s ne­go­ti­a­tions with bpTT for fu­ture gas pro­duc­tion and projects in T&T.

Min­is­ter of Na­tion­al Se­cu­ri­ty, Com­mu­ni­ca­tions and Min­is­ter in the Of­fice of the Prime Min­is­ter Stu­art Young, Chief Op­er­at­ing Of­fi­cer, Glob­al Up­stream Re­gions at BP William Lin, Head of Plan­ning and Com­mer­cial Fi­nance at bpTT Richard Eaton and bpTT’s Man­ag­ing Coun­sel, Wendy Fae Thomp­son were al­so present at the sign­ing.

Back in March, Mc­Der­mott In­ter­na­tion­al, Inc an­nounced that it was award­ed a de­tailed en­gi­neer­ing and long lead pro­cure­ment ser­vices con­tract from bpTT for the Cas­sia C Com­pres­sion Plat­form.

Mc­Der­mott’s was al­so award­ed the con­tract for the en­gi­neer­ing, pro­cure­ment, con­struc­tion, in­stal­la­tion and com­mis­sion­ing (EP­CIC) con­tract for the An­gelin project by bpTT last year.

The Cas­sia C Com­pres­sion project, ac­cord­ing to in­for­ma­tion on Mc­Der­mott’s web­site, in­cludes a new un­manned com­pres­sion plat­form for the ex­ist­ing Cas­sia com­plex. The fa­cil­i­ty is ex­pect­ed to pro­vide gas com­pres­sion to the Cas­sia com­plex through a new bridge con­nect­ed to Cas­sia B.

Cas­sia C is bpTT’s third Cas­sia plat­form.

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