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BP investing US$8 billion in nine new T&T projects

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BP Trinidad and Tobago’s long-term plan could potentially see the company investing as much as $8 billion dollars in T&T, in 9 new developments in the next 10 years, according to Claire Fitzpatrick, new BPTT president.

Speaking at a media event held at BPTT’s corporate offices on Wednesday July 25, Fitzpatrick added that bringing the plans to fruition will however require T&T to remain competitive within the BP Global portfolio in order to achieve final successful decisions on investments.

She noted that that there remain decades of demand for gas and that this makes BPTT increasingly important to BP. She said too that the company was not immune to change.  “Our industry is in rapid change globally and to remain competitive and successful in this environment means that we must change and continue to evolve to keep our operations here attractive to further investment,” Fitzpatrick said.

According to the release, Fitzpatrick pointed out that while technology may bring more certainty to hydrocarbon resources below the surface, above the surface there is still important work to be concluded with Government and industry stakeholders to keep Trinidad competitive in a rapidly changing world. “Empowering skilled local staff with technology works best when above the ground factors also reflect the dynamism of a new, competitive industry and world,” she said.

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