BP wholly owned subsidiary has signed an agreement to explore for oil and gas offshore Trinidad and Tobago. The agreement is the first signed for deep-sea drilling in the Caribbean country in over a decade.
The exploration will cover an area of 1,390 square miles off the northeast coast of Trinidad, down to an average depth of approximately 6,560feet.
To help boost production, the country has been offering blocks to international corporations for exploration. Trinidad’s economy is heavily reliant on the energy sector.
BP Trinidad & Tobago accounts for approximately half of the country’s natural gas production and 12% of the company’s production worldwide.