WionDrive News Desk 
British oil major BP and U.S. shale producer EOG Resources are engaged in discussions to jointly develop a significant natural gas field located off the coast of Trinidad and Tobago. The proposed collaboration aims to unlock the potential of this energy resource through a coordinated effort.
According to BP, the field in question holds nearly 1 trillion cubic feet (tcf) of natural gas reserves. However, the plans involve integrating this field with another BP discovery in the vicinity, potentially increasing the total gas reserves to be developed to approximately 1.5 tcf.
If successful, the project is expected to commence gas production in late 2026, with the extracted natural gas intended to feed Trinidad’s flagship liquefied natural gas (LNG) facility, Atlantic LNG. Both BP and Shell hold substantial equity stakes of 45% each in this LNG project.
Trinidad and Tobago holds a prominent position as Latin America’s largest exporter of LNG and the world’s second-largest exporter of methanol and ammonia. Consequently, this joint development initiative could play a crucial role in sustaining and potentially expanding the country’s energy exports.
While BP’s LNG portfolio heavily relies on the output from Atlantic LNG, the facility’s operations have been hindered by declining natural gas production from ageing fields in the region. This proposed collaboration with EOG Resources presents an opportunity to revitalise and boost the region’s gas production capabilities.
A spokesperson for BP’s Trinidad and Tobago unit confirmed that the company is “in active negotiation with EOG Resources Trinidad for the formation of a joint venture” to develop BP’s Coconut field. According to sources familiar with the project, EOG Resources would assume the role of operator, similar to the arrangement it has with BP for the Mento project, which is tied back to EOG’s Pelican platform.
While EOG Resources declined to comment on the proposed joint venture, BP’s Trinidad and Tobago president, David Campbell, had previously expressed the company’s focus on deep-water exploration in the region. Campbell stated that BP believes it can make larger discoveries in the deep-water areas and is working to develop the Calypso gas discovery with Woodside Energy.
As BP and EOG Resources progress in their negotiations, they are actively working to obtain the necessary regulatory approvals and reach commercial agreements to facilitate the joint development of the Coconut field. The success of this collaborative effort could contribute to bolstering Trinidad and Tobago’s energy sector and enhancing the region’s position as a significant player in the global LNG and petrochemical markets.
