EOG Finalizes Block 4(a) Contract

US oil and gas company EOG Resources (NYSE: EOG) has finalized its block 4(a) gas contract with Trinidad & Tobago's government, company chairman and CEO Mark Papa said in a webcast.

"We are in the final stage of platform design for this project," Papa said.

Sales under the project would boost the company's overall Trinidad & Tobago production roughly 60Mf3/d (1.7Mm/d) in 2010, he said.

The Caribbean country's National Gas Company (NGC) will use the gas to meet supply requirements for petrochemicals, metals and other industrial plants scheduled to come online in coming years. NGC also supplies power generation plants.

EOG's January-June 2007 natural gas output from its Trinidad & Tobago operations fell 8.39% to 251Mf3/d compared to the year-ago period. Crude oil and condensate production dropped 19.2% to 4.2Mb/d.

Companywide, EOG 1H07 natural gas output reached 1.44Bf3/d and crude oil and condensate production hit 29.4Mb/d.

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