BHP's Trinidad Project Advances

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BHP said its Ruby project in Trinidad is on track to start production in May, ahead of schedule and on budget. The $500 million project which was sanctioned in 2019 is designed to recover 13.2 million barrels of oil and 274 billion cubic feet of natural gas from the Ruby and Delaware reservoirs offshore Trinidad and Tobago (IOD Apr.22'20). Ruby is being tied back to existing production facilities and will have a gross production capacity of 16,000 b/d of oil and 80 MMcf/d of gas. BHP holds a 68.46% interest in the project, while Heritage Petroleum and the National Gas Company of Trinidad and Tobago hold the remaining 20.13% and 11.41% interests, respectively. This is another milestone for the Australian mining and petroleum conglomerate which achieved first gas from its West Barracouta natural gas field in the Bass Strait offshore New South Wales this month (IOD Nov.30'20). BHP also said it started drilling an infill well at its Shenzi development in the Gulf of Mexico. Work is expected to be completed in June when work on a second well will start. BHP kept its petroleum production guidance for fiscal 2021 unchanged at 260,273-279,452 boe/d.

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