Young pleased with Cypre gas production

PRIME Minister Stuart Young said he was pleased with the announcement by bp Trinidad and Tobago (bpTT) that the Cypre field has produced its first gas. He said this project has seen a record turnaround, having been approved in late 2022.

Speaking at the post-Cabinet media briefing at Whitehall on April 3, Young said the project was an example of a project which was not outside of TT’s borders.

“I’m bringing this up today because those who would like to mislead the population want to say all our eggs are in cross-border gas. I was reminded this project was sanctioned by the head of bpTT in London in a meeting with Dr Rowley and myself in autumn 2022 as a result of the negotiations and discussions we were having in the boardroom of bp in London. Then CEO Bernard Louis told then PM Rowley and myself that based on the discussions and the relationship, etc., bp would sanction Cypre.”

He said the turnaround came less than three years later, with a significant amount of gas being produced from within TT’s domestic waters.

“At the highest level it will reach about 250 million standard cubic feet of gas a day. I’m asking the population to take note of the facts. This comes on the heels of an announcement a week ago with respect to Ginger and Frangipani, two projects as well being conducted in TT.

“This is the third sub-sea project after Juniper and Mapatal with bp. It will be followed shortly, you will hear an announcement from bpTT and EOG Resources about gas production from Mento.”

Young said he met with the president of integrated gas at Shell globally, Sir Cederic Cremers and discussed the Manatee project.

“This is proceeding full speed ahead and we’re expecting the first gas by 2027. Part of the platform is being fabricated here in Trinidad at Trinidad Offshore Fabrication Company (TOFCO) in La Brea, the largest fabrication that’s ever taken place here, and the other part in Mexico. All that is needed to be done has been done and we expect that first gas production.

“He came with some exciting news, along with Mr Adam Lomas, with respect with the possibilities of Manatee, so I’m hoping those discussions will lead to those things they are saying can happen, because that will mean more gas production than initially predicted from that project, which is the largest hydrocarbon project in TT for decades.”

Young reminded that the Manatee project was not a simple one as it meant de-unitising a shared field with Venezuela, 27 per cent for TT and the other 73 per cent in Venezuelan waters. He said TT had negotiated with Venezuela to produce the Manatee side.

He said he updated the men on the Dragon gas deal, including negotiations with Venezuela and the discussions with US Secretary of State Marco Rubio.

“NGC and Shell are going full speed ahead with our plans, understanding we live in a world of uncertainty but all is progressing and if everything goes according to plan, that will assist us significantly with our production.”