BG Group plc has signed today a Production Sharing
Contract (PSC) for Block 3(a), offshore Trinidad,
with the Government of the Republic of Trinidad & Tobago
and partners. BG has a 30 per cent interest in
the Block.
BG's partners are operator BHP Billiton Limited,
which has a 30 per cent interest, Talisman Energy
Inc., which also has a 30 per cent interest and
TotalFinaElf S.A., which has a ten per cent interest.
Block 3(a), comprising 614 square kilometres,
is located 40 kilometres off the east coast of
Trinidad in water depths of 30-90 metres. The Block,
which is regarded as highly prospective, is adjacent
to Block 2(c) where BHP Billiton and partners have
made gas and oil discoveries recently.
Peter Dranfield, President, BG Trinidad and Tobago
said: "We are pleased to be moving forward
with exploration of this acreage through signature
of this Production Sharing Contract. Our upstream
portfolio, which has producing and developing assets,
is further enhanced by this agreement. Together
with our partners, we plan to carry out an extensive
exploration programme in Block 3(a) as part of
our continued commitment to the development of
the energy industry in Trinidad & Tobago."
The consortium was awarded rights to negotiate
for the PSC in October 2001 and this has resulted
in agreement to acquire 300 sq km of seismic data
and a six-well exploratory drilling programme.
Notes to Editors
BG Trinidad & Tobago (BG T&T) has been
operating in the region since 1989. It is operator
and has 50 per cent equity in the Dolphin field,
off the east coast of Trinidad. The field supplies
up to 264 million standard cubic feet of gas per
day to the National Gas Company of Trinidad and
Tobago under a 20-year supply contract. A development
plan for the Dolphin Deep and Starfish fields in
the East Coast Marine Area has been submitted to
the Government of Trinidad & Tobago.
BG T&T is operator and 45.9 per cent equity
holder in the North Coast Marine Area (NCMA) development.
NCMA is being developed to supply gas to the two-train
expansion of the Atlantic LNG (ALNG) plant in Point
Fortin.
BG T&T is also a 26 per cent shareholder in
Train 1 of the US$1 billion ALNG plant in south
west Trinidad. Presently, the plant produces three
million tonnes of liquefied natural gas per annum
for export to markets in the USA, Puerto Rico and
Spain. Construction of a further two trains is
underway and are due on stream in the third quarter
of 2002 and the second quarter of 2003 respectively.
Government approval is being sought for a 4.8 mtpa
capacity fourth train. A Front End Engineering
and Design study was completed at the end of January
2002.
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