BP Makes Gas Discovery in Trinidad

BP Trinidad and Tobago has discovered one trillion cubic feet of gas in its Iron Horse field located off the east coast of Trinidad. This is the company's second major natural gas discovery for 2002 and its fourth in three years, raising BPTT's estimated gas reserves to 17 trillion cubic feet.

Iron Horse was discovered in mid-July some 24 miles off Trinidad and Tobago's east coast close to the Amherstia, Cassia and Red Mango fields. The discovery well was drilled by the jack up rig Chiles Coronado (now re-named the Ensco 76) in 230 feet of water. It was spudded on June 12, drilled vertically, and completed on August 8 at a total depth of 13,471 feet. Expressed in equivalent oil terms, the Iron Horse discovery equates to approximately 180 million barrels of oil on an energy equivalent basis.

Commenting on the Iron Horse discovery, BPTT Chairman Robert Riley said: "This further demonstrates our capability to deliver on our gas supply commitments for industrial development in Trinidad and Tobago. It also confirms our long-held view that this country possesses a world-class gas basin."