BG Group, BHP Billiton, Talisman Energy, and TotalFinaElf signed a production sharing contract (PSC) for Block 3(a) offshore Trinidad with the government of Trinidad & Tobago. The 614-sq-km Block 3(a) lies 40 km off the east coast of Trinidad in 30-90 meters water depths. "Together with our partners, we plan to carry out an extensive exploration program in Block 3(a) as part of our continued commitment to the development of the energy industry in Trinidad & Tobago," BG President for Trinidad & Tobago Peter Dranfield said.
Operator BHP has 30%, Talisman has 30%, BG has 30%, and TFE has 10%. The group was awarded rights to negotiate for the PSC in October 2001, and this resulted in agreement to acquire 300 sq km of seismic data and a six-well exploratory drilling program.
The block is adjacent to Block 2(c), the site of several recent discoveries. Recent Block 2(c) work includes Kairi-2, Angostura-1, and Canteen-1. Talisman CEO Jim Buckee has said the company will sanction a Block 2(c) project later this year with production beginning in 2004. Operator BHP holds 45%, Talisman holds 25%, and TotalFinaElf holds 30% in block 2(c).
