Long,
stable future ahead - bpTT boss
By Ian Gooding
The Trinidad Guardian
Port Spain
Petroleumworld.com 07 02 06
BpTT’s
chairman and CEO Robert Riley said he expects to
produce around 500,000 barrels a day of oil equivalent
or three billion cubic feet a day of gas for the
next 20 to 25 years.
“I
assure you we can handle this scale of business,”
he said.
“Like
the Soca Warriors, we will continue to blend our
local skills and experience with the best technology
available anywhere in the world to keep us at the
top of our game, and I guarantee we will have a
better result than the Soca Warriors and continue
to win.”
Riley
was at the time addressing members of AmCham at
MovieTowne on the topic, Operating a successful
gas business and projections for the future.
He
said bpTT was now drilling a US$75 million Ibis
Deep well in the South East Coast Consortium block
to a depth of 20,500 feet, which could open a new
era for natural gas in this country.
“If
successful, this could open up a brand new source
of hydrocarbons—most likely gas—for
T&T that could radically alter the existing
reserves picture,” he said.
“We
are at a critical phase that will determine what
the future looks like. The Ibis Deep test and others
to follow could tell us an entirely new story from
the one we know today.”
The
drilling was going great, he said, and would be
completed around the end of August or mid-September,
and this would be followed by another three months
or so of analysing before any definite announcement
of the results would be made.
Prime
Minister Patrick Manning, he said, has expressed
an interest in visiting the Global Santa Fe Corporation’s
Constellation One rig, which is drilling the Ibis.
The Trinidad Guardian
Thursday 22nd June, 2006
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©2006 The Trinidad Guardian. All Rights Reserved.
