Procurement News Notice |
|
| PNN | 61772 |
| Work Detail | BP PLC said on Thursday it was in talks with the Venezuela and Trinidad and Tobago governments to develop a gas field. BP has been seeking to increase its natural gas production in Trinidad to feed into Atlantic LNGs liquefied natural gas export facility. BPs gas output has fallen in the last five years by almost 1 billion cubic feet per day (BCF/D) from over 2.2 bcf/d down to 1.2 bcf/d. "BP can confirm that it is in discussions with the government of Trinidad and Tobago and the Bolivarian Republic of Venezuela on the potential development of gas resources in the Manakin-Cocuina field," said BP in a statement on Thursday. On Thursday Venezuelas government posted a photograph of its oil Minister Pedro Tellechea meeting with BPs Trinidad President David Campbell and Trinidads Energy Minister Stuart Young in Caracas. The Manakin-Coquina field straddles both sides of the countries borders and BP said the development talks are in keeping with an easing of U.S. sanctions against Venezuela. The fields were unitized in 2015 but talks on the development were stalled upon imposition of U.S. sanctions in 2019 against Venezuela, said BP. The field is estimated to contain just over 1 trillion cubic feet of natural gas. |
| Country | Venezuela , South America |
| Industry | Oil & Gas |
| Entry Date | 15 Mar 2024 |
| Source | https://www.oedigital.com/news/512260-bp-in-talks-with-venezuela-and-trinidad-to-develop-gas-field |
