The Government and bpTT will begin talks in mid-June on issues related to the restructuring of Atlantic LNG as well as an acceleration of field operations and exploration.
That was among the outcomes of what Government officials described as “very frank and detailed” talks between Prime Minister Dr Keith Rowley and top BP officials in London yesterday.
Agreement for talks on Atlantic LNG and other issues followed BP’s recent announcement—on the eve of the Government’s recent mid-year review—that it might not be able to supply natural gas for Atlantic LNG’s Train 1.
The Office of the Prime Minister (OPM) issued a statement yesterday on the outcome of the London talks, one of the key points of Rowley’s overseas energy mission. Earlier in the week the PM’s delegation signed a new energy deal with Shell in Holland which will bring T&T an enhanced revenue package for the sale of LNG.
On the second stop at BP’s London headquarters, the T&T delegation’s 90-minute meeting with a high-level team of BP executives, including bpTT president Claire Fitzpatrick was described as “informative and productive.”
BP’s team was led by Chief Executive, Upstream Bernard Looney and included Global Upstream Regions at BP, William Lin, bpTT Head of Planning and Commercial Finance, Richard Eaton and Giselle Thompson, Vice-President Corporate Operations.
The OPM said in its release that the parties had “very frank and detailed conversation about BP’s developmental plans for Trinidad and Tobago. The Prime Minister thanked BP for their cooperation with the Government of Trinidad and Tobago in the energy sector.”
Discussions focused on BP’s recent drilling programmes and the future of LNG production in T&T. BP also gave an update on their short and medium-term exploration and production gas programmes.
The parties also reaffirmed their commitment to the growth of the energy sector, as they scheduled the continuation of negotiations between empowered teams from both sides.
Negotiations are expected to begin in the middle of June “in furtherance of specific objectives relating to the restructuring of Atlantic LNG, acceleration of field investigation, exploration, production as well as discussions surrounding a large number of E&P licenses.”
Rowley, during a debate in Parliament recently, explained that negotiating teams from the oil sector and the Government have been meeting on issues over time. He also said the Government had to keep an eye on the negotiations that are underway for Atlantic LNG’s Train 2, 3 and 4.
At yesterday’s meeting, BP officials also updated the Prime Minister and his delegation on the platform fabrication taking place at Trinidad Offshore Fabrication Company (TOFCO) in La Brea.
T&T’s delegation included Energy Minister Franklin Khan, National Security, Communication and Minister in the Prime Minister’s Office Stuart Young, Minister in the Ministry of Finance Allyson West and National Gas Company president Mark Loquan.