BP, EOG probe JV to develop Trinidad & Tobago’s field

BP and EOG Resources are discussing a joint venture to develop a natural gas field off Trinidad and Tobago’s coast, Reuters reported.

The field, initially holds 1 trillion cubic feet (tcf) of gas. However, it will be connected to another BP discovery bringing the total area to 1.5 tcf.

Production is slated for late 2026 to supply Trinidad’s Atlantic LNG project, where both BP and Shell have 45 per cent stakes. Trinidad is a major gas and ammonia exporter.

BP’s operations in Trinidad face challenges from declining gas production. Talks with EOG aim to establish a joint venture for BP’s Coconut field, similar to their Mento project arrangement.

EOG would operate the Coconut project. BP sees Trinidad’s deep water as a key focus for future exploration, including the Calypso gas discovery with Woodside Energy. Regulatory approvals and commercial agreements for the Coconut joint venture are in progress between BP and EOG.