The Government and bpTT will begin talks in mid-June on issues related to the restructuring of Atlantic LNG as well as an acceleration of field operations and exploration.
That was among the outcomes of what Government officials described as “very frank and detailed” talks between Prime Minister Dr Keith Rowley and top BP officials in London yesterday.
The arrival of the Angelin, bpTT’s 15th offshore platform in T&T, is part a ten-year development plan which will see the energy company investing up to US$8 billion in nine major projects.
Claire Fitzpatrick, who was appointed Regional President in February, unveiled some of the company’s plans during an open house session at bpTT’s corporate offices in Port-of-Spain yesterday.
She emphasised, however, the need for T&T to remain competitive within the BP Global portfolio for final successful decisions on investments.
Prime Minister Dr Keith Rowley has led a delegation to meet with executives of BP at the company's headquarters in London.
Prime Minister Dr Keith Rowley and the Minister Stuart Young have met with members of the BP executive team for an update on BP's proposed investment in T&T.
The BP team was led by Bernard Looney, BP Upstream Chief Executive Officer and included Andy Hopwood, BP Executive Vice-President, chief operating officer, strategy and regions, Upstream; Norman Christie, Regional President, BPTT and Giselle Thompson, Vice President Corporate Operations, BPTT.
The meeting took place at the Diplomatic Centre, La Fantasie St Ann’s.
British oil giant BP rebounded back into net profit in the first quarter, energised by deep cost-cutting and rising crude prices, the group revealed on Tuesday (May 2).
Earnings after taxation stood at US$1.45 billion (€1.33 billion) in the first three months of 2017, which contrasted with a net loss of US$583 million during the first quarter of 2016.
Benchmark oil contract Brent North Sea crude averaged US$54.61 in the first quarter, up 55 per cent year-on-year.