[UPDATED] BP's dry wells set back Atlantic gas expansion

BPTT has confirmed the "disappointing results" from its infill drilling programmes will have a material impact on forecasted production, especially in 2020 and 2021. In a release this afternoon, the company said there will, therefore, be challenges to the company's gas supply to Train One after 2019.

BP along with Atlantic and its shareholders are working through options for the future of the train. The other three trains remain unaffected, the company said. BPTT is the second biggest shareholder of Train One, with Shell as the biggest.

BPTT said its exploration and well work programmes will continue as planned in 2019 and there is no impact to sanctioned projects, Angelin, Cassia Compression and Matapal.

BPTT's regional president, Claire Fitzpatrick said, “Despite BPTT’s recent exploration successes such as Savannah and Macadamia and ongoing success in the development of the Angelin field, these recent drilling results remind us that there is inherent uncertainty in the subsurface.

This is the nature of our business and we will continue to leverage the latest technology to find and develop resources. We remain committed to the development of our acreage in the Columbus Basin and will continue to progress the Angelin, Cassia Compression and Matapal Projects as planned.”

This story has been adjusted to include additional details. See original post below.

As a spirited debate on the economy takes place in the Parliament, sources have told Newsday that the country’s biggest taxpayer, BPTT, drilled four dry wells in the Columbus Basin, leading to the possible hold off on the much anticipated extension of Atlantic’s liquefied natural gas Train One.

Newsday was told the company drilled four dry wells in the Cannonball field, located off the southeast coast of TT. Sources told Newsday that the wells were part of its current programme and the company drilled its fourth dry well on Thursday.

This means the company will not have gas to meet its commitments to new Train One volumes.

This story is developing.