Group 1: BP and Trinidad and Tobago Agreement - BP plc has signed a Production Sharing Agreement (PSA) with Trinidad and Tobago for the exploration and production of natural gas in the shallow water block NCMA 2 [1] - The PSA aims to increase Trinidad and Tobago's natural gas output to enhance the supply for its liquefied natural gas (LNG) facilities, addressing the country's dwindling natural gas supply [2] - Block NCMA 2 is located in the North Coast Marine Area at a water depth of approximately 200 meters, marking the second agreement signed by Trinidad and Tobago to boost natural gas output [3] Group 2: Industry Context - Trinidad and Tobago's Ministry of Energy and Energy Industries is actively promoting exploration and production activities to attract investments in the upstream segment [2] - The first agreement to increase natural gas output was signed with Shell plc for the Modified U(c) block in September 2024, which was the most sought-after area in the shallow water auction [3]
BP Wins Exploration Rights for Shallow Water Block Offshore Trinidad