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BP Holdings: BP Trinidad og Tobago

Posted Nov 21 2012 3:57am

Trinidad and Tobago enjoyed its first oil boom after 1910, although the abundant natural gas in its reservoirs was only fully appreciated several decades later. From the late 1970s, gas began to dominate the country’s energy market, as it does today. The dual-island nation produced more than 700,000 barrels of oil equivalent in natural gas on a daily basis in 2011, of which BP’s Trinidad and Tobago business – BPTT – contributed around 55%. The company operates 13 offshore platforms, onshore oil and gas processing terminals and is the largest shareholder in the liquefied natural gas (LNG) company, Atlantic, with its four liquefaction units, or trains. 

“We are a business that has gone through tremendous growth, especially since the start-up of the first LNG train in 1999,” says BPTT regional president, Norman Christie. “This country’s natural gas production grew from 1.3 billion to 4.3 billion cubic feet a day between 1999 and 2010, and our own production more than doubled in that period.” 

Today, BPTT contributes around 12% of BP’s total oil and gas production globally. The challenge for the organisation now lies in maintaining that level, to provide consistent value for company and country. With natural gas projected to be the world’s fastest-growing fossil fuel by 2030 and demand for LNG increasing in countries such as China and India, the business is looking at how it will meet the long-term supply needs through its existing position, by maximising recovery from producing reservoirs.  

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