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.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.
- Falcon Oil Declares Commercial Flow Test Results for Shenandoah Well
- UK Oil Regulator Publishes New Emissions Reduction Plan
- Japan Failing to Meet Corporate Demand for Clean Power: Amazon
- PetroChina Posts Higher Annual Profit on Higher Production
- McDermott Settles Reficar Dispute
- Macquarie Strategists Expect Brent Oil Price to Grind Higher
- US, SKorea Launch Task Force to Stop Illicit Refined Oil Flows into NKorea
- Russian Navy Enters Warship-Crowded Red Sea Amid Houthi Attacks
- Pennsylvania County Joins List of Local Govts Suing Big Oil over Climate
- Equinor Makes Discovery in North Sea
- Standard Chartered Reiterates $94 Brent Call
- India Halts Russia Oil Supplies From Sanctioned Tanker Giant
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Centcom, Dryad Outline Recent Moves Around Red Sea Region
- PetroChina Set to Receive Venezuelan Oil
- Czech Conglomerate to Buy Major Stake in Gasnet for $917MM
- US DOE Offers $44MM in Funding to Boost Clean Power Distribution
- Oil Settles Lower as Stronger Dollar Offsets Tighter Market
- UK Grid Operator Receives Aid to Advance Rural Decarbonization
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension
- Equinor Makes Discovery in North Sea
- Standard Chartered Reiterates $94 Brent Call