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.