Repsol Uncovers Largest Volume of Gas in 5 Years
Repsol revealed late Monday that it has uncovered its largest volume of gas in five years, offshore Trinidad and Tobago.
The find, which is the most significant in a decade for the country, is estimated by Repsol to comprise two trillion cubic feet of gas in place.
The discoveries were made in two wells, Savannah and Macadamia, located in the East Block within the Columbus Basin east of the island of Trinidad at a depth of 492 feet.
Repsol holds a 30 percent stake in the exploration consortium, bpTT, while the rest is held by BP plc. Repsol produced 101,887 barrels of oil equivalent per day in Trinidad and Tobago in 2016.
In addition to the latest find, the Trinidadian authorities have authorized the development of the Angelin project, in which Repsol holds a 30 percent stake.
This field is located in the West Block, 37 miles from the island of Trinidad, where production is estimated at 600 million cubic feet of gas per day (109,000 barrels of oil equivalent per day).
The drilling phase is expected to begin in the second half of 2018, with production beginning in 2019.
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