bp Trinidad and Tobago and EOG Resources Trinidad have agreed to partner on the latest development in offshore Trinidad, a natural gas field known as Coconut. This significant project is set to be developed in the Columbus basin, where water depths reach 260 ft. The development marks the latest in a series of collaborations between the two companies, following successful ventures like EMZ (2011), Sercan (2016), Banyan (2017), and Mento (2025).
Coconut will be a 50/50 joint venture, with EOG serving as the operator. The project has already received a final investment decision from the joint-venture partners, with first gas expected in 2027. This development is crucial for both companies, as it will enhance their natural gas portfolios and contribute to the domestic and international energy markets.
The Coconut natural gas field, located off the southeast coast of Trinidad, is estimated to hold nearly 1 trillion cubic feet (tcf) of natural gas. Plans are in place to integrate this field with another BP discovery, potentially increasing the total potential development to 1.5 tcf. This output is expected to supply Trinidad’s premier liquefied natural gas (LNG) facility, Atlantic LNG, which is essential to BP’s LNG portfolio.
Despite facing challenges due to declining gas output from older fields, BP is actively pursuing deep-water exploration to secure larger discoveries. In line with this strategy, the company is collaborating with EOG to secure regulatory approvals and finalize commercial agreements for the Coconut project.
The development of Coconut underscores bp Trinidad and Tobago’s commitment to deep-water exploration, positioning the company for long-term investments and value creation. This partnership is strategically vital to Trinidad and Tobago’s energy landscape, enhancing its global appeal as a significant LNG and methanol exporter.
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