Trinidad News, Tobago News

Welcome to Breaking News Trinidad and Tobago
Friday, November 17 2017 @ 10:40 PM AST

BP expects Juniper platform to produce around 90% nameplate capacity

BP plc Chief Financial Officer Brian Gilvary this morning on a London conference call with investors said he expects the Juniper platform in Trinidad, started in August, to produce 95,000 barrels of oil equivalent per day, which is about 536 million standard cubic feet of gas per day (mmscfd) or about 90% of nameplate capacity (590 mmscfd).

Gilvary said: "In August, Juniper, BP's first subsea field development in Trinidad, came online. It is the largest new project to start-up in Trinidad for several years and is expected to produce around 95,000 barrels of oil equivalent per day."

BP also told investors it got a higher price for natural gas in Q3 2017 versus Q3 2016, but lower versus Q2 2017.

BP also forecasts the price of oil will increase to near US$60 per barrel by the end of this year.

The purpose of the call was to release Q3 earnings which grew by 100% year-on-year and 173% quarter on quarter to US$1.9 billion (underlying replacement cost profit).

Story Options