(ShareCast News) - BP Trinidad and Tobago has started up the Trinidad Onshore Compression projects.
The oil giant said the full start-up will take place in the next few months and once fully on stream the facility will have the potential to deliver around 200m standard cubic feet of gas per day.
It is expected to improve production capacity by lifting production from low-pressure wells in BP Trinidad & Tobago's existing acreage in the Columbus Basin using an additional inlet compressor at the Point Fortin Atlantic LNG plant.
Bernard Looney, chief executive of the company's upstream business, said: "Delivered on-time and on-budget, this major infrastructure project is part of BP's plan to bring 500,000 barrels a day of new production capacity online by the end of 2017 and paves the way for Juniper, our other major project start-up in Trinidad and Tobago this year."
The project - one of seven major upstream projects BP expects to bring online this year - was sanctioned in July 2016 following agreements between Atlantic shareholders, the National Gas Company of Trinidad and Tobago and other directly impacted upstream operators.
BP Trinidad and Tobago regional president Norman Christie said: "BPTT thanks and congratulates the government, contractors, partners and other stakeholders that came together to safely bring the TROC project to mechanical completion.
"The TROC project is a clear example of bpTT, the government and many key players in the oil and gas industry cooperating to improve production capacity, which will benefit both the petrochemical plants and Atlantic. Though start-up will be phased, we anticipate an improvement in gas production in 2017 as a result of TROC and the planned start-up of Juniper later this year."
Well said. What needs to be understood is that the current board inherited a dog of a company that was millimeters from the cliff edge due to originally dodgy management and then to an uninspired replacement board. It is completely remarkable Range still exists at all. It is not possible to turn around a company like this overnight. There has been a lot of housekeeping, rebuilding cash reserves and searching for new projects that will revalue the company. Don't blame the current board...blame the previous boards!
Range Resources A Q1 update from Range where all is continue to go as planned. Production is 567 b/d up 4% and the RRDSL RTO is continuing. Production is under way at the Beach Marcelle waterflood project at 60 b/d and Range has struck a deal with Petrotrin to use their water for injection here and at Morne Diablo when necessary. Whilst RRL is suspended for a while until the deal completes there seems still to be good things going on behind the scenes
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