We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
BP Eyes FID for Trinidad's Calypso Deepwater Gas Field by 2025
Read MoreHide Full Article
BP plc (BP - Free Report) anticipates that the Calypso deepwater natural gas field, located offshore Trinidad and Tobago, will receive approval for its final investment decision (FID) as early as the end of 2025, per a Reuters report.
BP, which holds a 30% stake in the Calypso discoveries, had previously projected that the FID could be made in 2026. However, David Campbell, the head of BP's Trinidad and Tobago operations, revealed that the company is expediting the process, working through the capital value process and gradually advancing through engineering stages. Campbell expressed optimism about a final investment decision within the next year or two.
Woodside Energy, the operator of the Calypso project, remains committed to advancing the deepwater endeavor. The project’s director, Stacy Patrick, emphasized the potential for unlocking significant natural gas reserves in Trinidad.
Per the report, Trinidad and Tobago's government has been urging operators, particularly offshore drillers, to expedite bringing gas discoveries to market due to shortages resulting from declining production. Energy minister Stuart Young announced that Calypso is expected to produce 700 million cubic feet per day of gas.
According to Campbell, BP's focus in Trinidad lies in deepwater exploration. The company has identified over 20 trillion cubic feet of gas and one billion barrels of oil in the Columbus basin, situated off the southeastern coast of Trinidad, near Venezuela. Currently, it is actively engaged in the development of gas projects in this region.
BP, the U.K.-headquartered energy giant, possesses a robust portfolio of upstream projects, supporting substantial production growth. Some other stocks for investors interested in the energy sector are Sunoco LP (SUN - Free Report) , Oceaneering International, Inc. (OII - Free Report) and Vaalco Energy, Inc. (EGY - Free Report) .
Sunoco is among the biggest motor fuel distributors in the U.S. wholesale market in terms of volumes. By distributing more than 10 fuel brands via 10,000 convenience stores under long-term distribution contracts, the partnership will continue to generate stable cash flow. Its distribution networks reflect a strong business with sustainable and predictable cash flow.
Oceaneering International is a leading provider of integrated technology solutions, active at all phases of the offshore oilfield lifecycle. Its strong relationship with high-quality customers provides revenue visibility and business certainty. OII is well-positioned to supply equipment for deep-water projects.
Vaalco Energy is an independent energy company involved in upstream operation business with a diversified presence in Africa and Canada. Having a large inventory of drilling locations in premium Canadian Acreage, the company’s production outlook seems bright.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Shutterstock
BP Eyes FID for Trinidad's Calypso Deepwater Gas Field by 2025
BP plc (BP - Free Report) anticipates that the Calypso deepwater natural gas field, located offshore Trinidad and Tobago, will receive approval for its final investment decision (FID) as early as the end of 2025, per a Reuters report.
BP, which holds a 30% stake in the Calypso discoveries, had previously projected that the FID could be made in 2026. However, David Campbell, the head of BP's Trinidad and Tobago operations, revealed that the company is expediting the process, working through the capital value process and gradually advancing through engineering stages. Campbell expressed optimism about a final investment decision within the next year or two.
Woodside Energy, the operator of the Calypso project, remains committed to advancing the deepwater endeavor. The project’s director, Stacy Patrick, emphasized the potential for unlocking significant natural gas reserves in Trinidad.
Per the report, Trinidad and Tobago's government has been urging operators, particularly offshore drillers, to expedite bringing gas discoveries to market due to shortages resulting from declining production. Energy minister Stuart Young announced that Calypso is expected to produce 700 million cubic feet per day of gas.
According to Campbell, BP's focus in Trinidad lies in deepwater exploration. The company has identified over 20 trillion cubic feet of gas and one billion barrels of oil in the Columbus basin, situated off the southeastern coast of Trinidad, near Venezuela. Currently, it is actively engaged in the development of gas projects in this region.
BP, the U.K.-headquartered energy giant, possesses a robust portfolio of upstream projects, supporting substantial production growth. Some other stocks for investors interested in the energy sector are Sunoco LP (SUN - Free Report) , Oceaneering International, Inc. (OII - Free Report) and Vaalco Energy, Inc. (EGY - Free Report) .
Sunoco is among the biggest motor fuel distributors in the U.S. wholesale market in terms of volumes. By distributing more than 10 fuel brands via 10,000 convenience stores under long-term distribution contracts, the partnership will continue to generate stable cash flow. Its distribution networks reflect a strong business with sustainable and predictable cash flow.
Oceaneering International is a leading provider of integrated technology solutions, active at all phases of the offshore oilfield lifecycle. Its strong relationship with high-quality customers provides revenue visibility and business certainty. OII is well-positioned to supply equipment for deep-water projects.
Vaalco Energy is an independent energy company involved in upstream operation business with a diversified presence in Africa and Canada. Having a large inventory of drilling locations in premium Canadian Acreage, the company’s production outlook seems bright.