Last update: 11-Dec-2013 9:52 pm
Wednesday, December 11, 2013
Trinidad & Tobago Guardian Online
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BP chief optimistic about T&T’s energy future
BP Chief Executive Bob Dudley is optimistic about the future of the energy sector in T&T. Speaking at the opening of the BP Technology Experience at the Hyatt Port-of-Spain, Dudley described as positive the early results from BP’s recently completed Ocean Bottom Cable (OBC) seismic survey aimed at better identifying the future gas potential of the Columbus basin off the south east of Trinidad. The OBC seismic survey was a significant investment by BP in its Trinidad operations.
“Final interpretation of the seismic survey data will take time, but the early results have given us confidence that there is still a lot of untapped potential in the basin,” said Dudley. “BP is in a good place in Trinidad. Below the ground, things are looking good—with scope to develop new fields and extend the lives of older ones. Above the ground we continue to have good relationships with government and other industry stakeholders.”
During his visit, Dudley also spoke at a special breakfast meeting prior to the annual general meeting of the T&T Energy Chamber where he reaffirmed BP’s interest in continuing to work with stakeholders to ensure that T&T remains attractive to continued investment.
“We have a lot of optimism about the prospects for Trinidad and Tobago’s offshore and onshore acreage. Investment decisions however, will also depend on the country’s attractiveness as a location for investment in a highly competitive world. This includes both keeping pace with fast-changing fiscal regimes globally and creating a market environment where risk and reward are fairly shared across the gas value chain,” he said.
This was the BP Chief Executive’s second visit to T&T since taking office in 2010. The trip also included meetings with the Prime Minister Kamla Persad–Bissessar, Kevin Ramnarine, Minister of Energy and Energy Affairs and Larry Howai Minister of Finance and the Economy.
Commenting on the future of BP’s operations in T&T, Dudley said: “BP will continue to invest in its operations here with several aims in mind—to unlock new resources and maintain our production levels of around 400 thousand barrels of oil equivalent a day and, most importantly, to maintain the integrity and reliability of our assets.”
On his visit, Dudley also had the opportunity to meet with bpTT staff and to congratulate the local team on the successful early completion of the maintenance programme on bpTT’s Cassia offshore hub which was delivered ahead of schedule. The BP Technology Experience gave attendees the chance to see the technologies that BP is using around the world—and in T&T—to discover more and recover more energy resources.
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