BHP hits pay in Trinidad while encountering dry hole at other prospect

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Australian based petroleum company BHP said on Thursday it has made one discovery while encountering a dry hole in exploration activities offshore the Caribbean twin island nation of Trinidad and Tobago.

The company drilled two additional exploration wells at its Northern licences as a part of Phase 4 of its deepwater drilling campaign.

BHP said the Boom-1 well was spud on August 28 and encountered hydrocarbons. Evaluation and analysis are ongoing. The Carnival-1 well was spud on September 30 and reached total depth after the end of the September quarter. The well was a dry hole.

“This completed the exploration program on our Trinidad and Tobago Northern licences. Evaluation and development planning studies of the discoveries in the North are ongoing. Following Carnival-1, the Deepwater Invictus rig will return to the US Gulf of Mexico to complete regulatory abandonment work on Shenzi appraisal and exploration boreholes,” BHP said.

The company said all major projects under development are tracking to plan, with the Ruby oil and gas development in Trinidad and Tobago approved during the September 2019 quarter.