bp awarded NCMA 2 exploration block

bp has been awarded the NCMA 2 block offshore Trinidad as part of the Shallow Water 2023/24 bid round that closed in May 2024.

Both bpTT and the Ministry of Energy and Energy Industries confirmed the news today (November 19, 2024), following the signing of the Production Sharing Contract (PSC) at the International Waterfront offices of the Ministry of Energy and Energy Industries.

The negotiated Production Sharing Contract (PSC) for Block NCMA 2 was signed between the Government of the Republic of Trinidad and Tobago and the successful bidder, BP Exploration Operating Company Limited (BPEOC). BP Exploration Operating Company Limited (BPEOC) and bpTT are both subsidiaries of bp Global.

According to the official statement released by bpTT, NCMA 2, located approximately 30 miles off Trinidad’s north coast, opens a new area of exploration for bp in Trinidad & Tobago, as all current production comes from the Columbus Basin off Trinidad’s east coast.

“Continued exploration activity is crucial for sustaining our industry and I am very pleased that we have secured this block,” said bpTT president David Campbell.  “The NCMA area is new to bp in T&T and I am looking forward to maximizing its potential.”

“Although geographically new to us, we will be able to draw on our 50-plus years of exploration experience in Trinidad and Tobago,” he asserted.

L to R: Stuart R. Young SC MP, Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister; and David Campbell, President of bpTT, at the signing of the Production Sharing Contract (PSC) for Block NCMA 2, on Tuesday 19 November 2024. [Image courtesy Ministry of Energy and Energy Industries]

And Minister of Energy and Energy Industries, Stuart R. Young SC MP, noted that the Ministry will continue “to aggressively market and execute concessions to promote exploration and investment in the upstream.”

“This marks the second PSC signed in record time in 2024,” he revealed, “and the Ministry of Energy and Energy Industries is committed to working with upstream operators to boost the supply of hydrocarbons and secure Trinidad and Tobago’s energy future.”

The Energy Ministry notes that Block NCMA 2 is situated in the North Coast Marine Area (NCMA) in water depths of approximately 200 meters.  It points out that entry into this block marks a significant milestone for BPEOC, as it represents the operator’s first endeavour into the North Coast region.

bpTT says since the beginning of 2024—as part of bp Global’s Trinidad strategy—it has successfully completed its infill drilling programme, announced the divestment of some of its mature assets, entered into a joint venture arrangement with EOG Resources for the Coconut development and is close to completing the Cypre development drilling campaign.

In addition to Minister Young, also present at today’s signing of the PSC for NCMA2 were: Mrs. Penelope Bradshaw-Niles, Permanent Secretary at the Ministry of Energy and Energy Industries; Ms. Sandra Fraser, Permanent Secretary at the Ministry of Energy and Energy Industries; and Mr. David Campbell, President of bpTT.

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