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Tuesday, September 26 2017 @ 02:05 PM AST

Highest natural gas producing well in the world comes on stream in Trinidad

The Ministry of Energy and Energy Affairs (MEEA) welcomes reports by the Central Bank that the country’s economy grew by 1.7% in the first quarter of 2013. During this period the energy sector also grew by 0.5%. This was due mainly to a 1.9% increase in natural gas sales. This trend continues into the second quarter of 2013 with a 3% increase in natural gas sales.

The MEEA is also pleased with the coming on stream of production from the BPTT Savonette 4 well (the highest natural gas producing well in the world) and the Savonette 5 well. In addition, BPTT is expected to drill the Savonette 6 well later this year. Production has also commenced from the EOG Resources Osprey development, which would ultimately add another 120 million standard cubic feet of natural gas per day into the domestic market.

These developments from both BPTT and EOG Resources augur well for the future of natural gas supply in the short to medium term and will further be supported by BGTT’s development of its Starfish field off the east coast in 2014.

Comment from the Minister of Energy and Energy Affairs, Senator the Honourable Kevin Ramnarine:

“In the last six months the natural gas sector has shown signs of stabilization and recovery following a period of maintenance by the major upstream producers that commenced in late 2010. There are already positive signs coming from BPTT and EOG Resources with respect to the Savonette and Osprey developments respectively. Based on these developments, the outlook for 2014 as regards natural gas is optimistic.”

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