Repsol expands in Trinidad

Repsol YPF purchased three oil fields and one gas field offshore Trinidad & Tobago. This purchase places the company among the ranks of the main producers of oil and gas in the Caribbean.

Offshore staff

Repsol YPF purchased three oil fields and one gas field offshore Trinidad & Tobago. This purchase places the company among the ranks of the main producers of oil and gas in the Caribbean.

Currently, the oil fields produce 20,500 boe/d. Production facilities include three platforms, 10 drilling satellites, and one compression satellite. Plans are in place to develop the Onyx gas field.

Repsol YPF currently produces in Trinidad & Tobago through its 30% participation in BPTT, 120,000 boe/d gas liquefying plant. In 4Q 2005 the fourth train is scheduled for startup. This train has the largest capacity in the world, according to Repsol, which holds a 22.22 % stake.

Petrotrin, Trinidad & Tobago's state oil company, will purchase a 15% stake in the licenses. Petrotrin produces 85,000 boe/d from its onshore and offshore assets in Trinidad and exports about 80 MMcf/d as LNG.

07/19/05

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