bp Trinidad and Tobago (bpTT) and EOG Resources Trinidad Limited (EOG) have announced a joint venture to develop the Coconut gas field, located off the southeast coast of Trinidad in the Columbus Basin.
The partnership, structured as a 50/50 joint venture with EOG as the operator, has reached its final investment decision, with first gas production anticipated in 2027, according to a release from the TT Energy Chamber.
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The Coconut field, discovered by bpTT in 2005 at a water depth of 260 feet, marks another strategic move in bpTT’s efforts to grow its gas business in Trinidad and Tobago. David Campbell, bpTT president, emphasized the importance of strategic partnerships in this growth strategy. “I am excited by the possibilities that exist and the value that we can unlock by continuing to leverage the power of strategic partnerships,” Campbell stated.
He added that the partnership with EOG will enable bpTT to accelerate production from the Coconut field and advance other gas growth opportunities, such as the Ginger field development. “We are accelerating gas growth while remaining focused on returns to achieve a higher value Trinidad business—one with clear line of sight to material high-margin growth over the next several years,” Campbell said.
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The Coconut project follows a series of successful joint ventures between bpTT and EOG, including the development of the EMZ field in 2011, Sercan in 2016, and Banyan in 2017. The Mento field, another joint venture project, is expected to come online in 2025.
