Production sharing contracts for two deepwater blocks offshore Trinidad & Tobago have been signed by a consortium of BHP Billiton and BG Group.
The consortium signed the PSCs for blocks TTDAA 3 and TTDAA 7 with the Ministry of Energy & Energy Affairs. BHP, the operator, has a 65% interest in the blocks with partner BG to hold the remainder.
Blocks TTDAA 3 and TTDAA 7 lie in water depths ranging from 1,500-2,500 m (4,921-8,202 ft) approximately 145 km off Trinidad’s eastern coast.
A seismic survey over blocks TTDAA 5, 6, 14, 23(a), 23(b), 28 and 29, which got underway earlier this year, is also nearing completion.
Recommended Reading
US Drillers Add Most Oil, Gas Rigs in a Week Since September
2024-03-15 - The oil and gas rig count, an early indicator of future output, rose by seven to 629 in the week to March 15.
US Drillers Add Oil, Gas Rigs for Third Time in Four Weeks
2024-02-09 - Despite this week's rig increase, Baker Hughes said the total count was still down 138 rigs, or 18%, below this time last year.
US Drillers Cut Oil, Gas Rigs for First Time in Three Weeks
2024-02-02 - Baker Hughes said U.S. oil rigs held steady at 499 this week, while gas rigs fell by two to 117.
US Drillers Add Oil, Gas Rigs for Second Week in a Row
2024-01-26 - The oil and gas rig count, an early indicator of future output, rose by one to 621 in the week to Jan. 26.
US Drillers Cut Oil, Gas Rigs for Second Time in Three Weeks
2024-02-16 - Baker Hughes said U.S. oil rigs fell two to 497 this week, while gas rigs were unchanged at 121.