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Repsol and BP Makes Major Carribean Gas Find

Mon 5th Jun 2017
Repsol and BP Makes Major Carribean Gas Find

Spain’s Repsol and BP have announced the discovery of a major gas field in the Carribean.

The find is estimated to contain two trillion cubic feet of natural gas which equates to TWO years of Spanish demand.

Repsol said its the largest volume of gas it has discovered in the last five years and the most significant in a decade for Trinidad and Tobago.

The company says about 65 percent of its production and 75 percent of its reserves are gas, which is promotes as a “key fuel in the transition to a low-carbon economy”.

Repsol holds a 30 percent stake in the exploration consortium, with the remaining 70 percent held by BP.

Drilling is expected to begin late 2018

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