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BP, EOG Discuss Trinidad Gas Field

Oil giant BP and U.S. shale producer EOG Resources are currently in talks to collaborate on the development of a natural gas field off the coast of Trinidad and Tobago, as confirmed by BP.

The gas field currently holds just under 1 trillion cubic feet (tcf) of natural gas. However, plans are underway to connect it to another BP discovery, which would expand the area to be developed to approximately 1.5 tcf of gas, according to sources familiar with the project interviewed by Reuters.

Anticipated to commence production in late 2026, the gas is earmarked to supply Trinidad’s leading liquefied natural gas (LNG) project, Atlantic LNG, in which BP and Shell each hold 45% equity stakes.

Trinidad and Tobago stands as Latin America’s largest exporter of superchilled gas and ranks as the world’s second-largest exporter of methanol and ammonia.

While output from Atlantic LNG represents a significant portion of BP’s overall LNG portfolio, its operations have been hindered by declining natural gas production from aging fields.

A spokesperson for BP’s Trinidad and Tobago division confirmed active negotiations with EOG Resources Trinidad regarding the establishment of a joint venture for the development of BP’s Coconut field.

As per insiders, EOG is expected to act as the operator of the project, mirroring a similar arrangement it has with BP for the Mento project, which is linked to EOG’s Pelican platform.

When approached for comment, EOG declined to provide details on the proposed joint venture.

In January, BP’s Trinidad and Tobago president, David Campbell, highlighted the company’s strategic focus on deep water exploration, where it aims to make significant discoveries. Collaborating with Woodside Energy on the Calypso gas discovery is one such endeavor.

BP states that it is actively working with EOG to advance regulatory approvals and finalize commercial agreements for the Coconut joint venture.

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