Reprinted from Caribbean Net News
caribbeannetnews.com

BP Trinidad aims to drill 10 wells from 2008
02-09-2007

PORT OF SPAIN, Trinidad (Reuters): BP Trinidad and Tobago plans to drill 10 wells over a decade when it resumes oil and gas exploration in the Caribbean twin island state in 2008 after a one-year break, a company official said.

"Whatever the outcome of all this pre-exploratory drilling work, you can rest assured that we intend to drill 10 wells in 10 years with a mixture of shallow wells and deep horizon prospects," Sheldon Daniel, vice president for communications and external affairs, said late on Tuesday.

BPTT, majority owned by British oil major BP Plc., abandoned drilling last August at the Ibis Deep well, the deepest well ever drilled in the country, after failing to find new sources of hydrocarbon.

Daniel told an energy conference it was important for the company to look at the risk profile involved in deep drilling and BPTT would have to consider whether to take on all the risk on such projects or whether to search for partners.

BP Trinidad and Tobago operated the Ibis Deep Well on behalf of EOG Resources (EOG.N: Quote, Profile, Research) and state-owned Petrotrin and the National Gas Company. The $80 million well was drilled to a depth of 19,068 feet (5,812 metres).