At VIFreepBreaking NewsBusiness NewsCaribbean NewsEnvironmental News

Spain’s Energy Company Repsol Makes Giant Gas Find Off Of Trinidad & Tobago

BLACK GOLD: BP Trinidad & Tobago LLC claimed the gas discoveries in the Savannah and Macadamia exploration wells, which come less than two months after the unit ramped up a natural gas compression project onshore Trinidad, one of seven major upstream projects the large company expects to bring online in 2017.

PORT OF SPAIN — Spanish energy company Repsol and London-based British Petroleum (BP) say they have found a gas field in the region containing an estimated two trillion cubic feet of natural gas — equivalent to two years of Spanish demand.

Repsol of Spain says that it is the largest volume of gas it has discovered in the last five years and the most significant in a decade for Trinidad and Tobago.

Repsol holds a 30 percent stake in the exploration consortium, with the rest held by BP.

A Repsol statement issued today says that drilling is expected to begin in the second half of next year.

The company says about 65 percent of its production and 75 percent of its reserves are gas, a key fuel in the transition to a low-carbon economy.

Previous post

Police Need Your Help Today To Find Missing Man Clifford Leroy Clarke On St. Thomas

Next post

Classmates, Teachers Remember 15-Year-Old Puerto Rico Plane Crash Victim Molly Wrede As An Athlete With An Easy Smile

The Author

John McCarthy

John McCarthy

John McCarthy is primarily known for his investigative reporting on the U.S. Virgin Islands. A series of reports beginning in the 1990's revealed that there was everything from coliform bacteria to Cryptosporidium in locally-bottled St. Croix drinking water, according to a then-unpublished University of the Virgin Islands sampling. Another report, following Hurricane Hugo in 1989, cited a Federal Emergency Management Agency (FEMA) confidential overview that said that over 40 percent of the U.S. Virgin Islands public lives below the poverty line. The Virgin Islands Free Press is the only Caribbean news source to regularly incorporate the findings of U.S. Freedom of Information Act requests. John's articles have appeared in the BVI Beacon, St. Croix Avis, San Juan Star and Virgin Islands Daily News. He is the former news director of WSVI-TV Channel 8 on St. Croix.

1 Comment

  1. June 6, 2017 at 12:15 PM — Reply

    Significant, in terms of Trinidad and Tobago having difficulty with supplying it’s down stream industry with reliable gas.

Leave a reply

Your email address will not be published. Required fields are marked *