BP Trinidad and Tobago (bpTT), a member of BP plc (BP), commenced the production of natural gas from its 100% owned Serrette field, offshore Trinidad.
Average production of natural gas, from five wells, at Serrette is estimated at 400 million standard cubic feet a day (mmscfd) of gas and associated condensate. Production from Serrette is attached to bpTT’s Cassia B hub through a 26-inch diameter, 32-mile long pipeline. Thereafter, it will be channelized to domestic as well as international markets, such as the US and Europe as liquefied natural gas.
Located in 280 feet (90 meters) of water off Trinidad’s Southeast Coast, Serrette is a normally unmanned installation (NUI). It was locally designed by Fluor Summit Engineering and built at the regional Trinidad Offshore Fabricators (TOFCO) yard in La Brea, south Trinidad.
Serrette is the fifth platform to be built locally using the standardized clone approach, which has helped bpTT to deliver these platforms with greater efficiency and considerable local content. Currently, bpTT has production from 13 offshore Trinidad platforms, including Serrette and two onshore processing facilities.
bpTT operates in 904,000 acres off Trinidad’s east coast and produces an average of 450,000 barrels of oil equivalent a day. It is one of the leading companies in Trinidad and Tobago’s energy sector.
BP holds a Zacks #3 Rank, which is equivalent to a Hold rating for a period of one to three months. We maintain a Neutral rating on the stock, for the long term. ExxonMobil Corporation (XOM) and Total SA (TOT) are the major competitors of the company.
