BPTT drilling
ends in failure
By
Richard Charan
South Bureau
Trinidad Express
Port
Spain
Petroleumworld.com
09 17 06
Energy giant bpTT has pulled out of its $500 million
Ibis Deep offshore exploration project after the
country's deepest ever well to be drilled proved
to be commercial failure.
The
possible reserves of natural gas energy experts
believed could have come from the well were heralded
by Prime Minister Patrick Manning, Energy Minister
Lenny Saith, and bpTT's chairman Robert Riley.
They
felt it would have greatly increased the country's
proven natural gas reserves.
In
a company statement Riley said: "I can assure
the national community that the result itself does
not mean the end of our exploration efforts in Trinidad
and Tobago. We remain committed to our current exploration
programme going forward."
The
exploration project was a joint venture between
bpTT, EOG Resources, Petrotrin and the National
Gas Company.
It
was bpTT that spent the US$80 million to drill in
EOG's licensed acreage in the South East Coast Consortium.
Trinidad
Express
Thursday, September 14th 2006
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