BP's Cypre Project Boosts Trinidad and Tobago's Gas Production

BP's Trinidad and Tobago unit has commenced operations at the Cypre gas project, a pivotal component of BP's global strategy to enhance upstream production. Cypre aims to produce 45,000 barrels of oil equivalent per day, with its first phase concluding in 2024 and phase two starting in 2025.

BP's Trinidad and Tobago unit announced the commencement of production from the Cypre gas project on Thursday, a critical element in BP's broad strategy to increase its global upstream output.

As one of ten major projects planned by BP to come online between 2025 and 2027, Cypre forms part of the company's expansive plan to boost oil and gas production to between 2.3 million and 2.5 million barrels of oil equivalent per day by 2030.

The project's peak production is expected to be around 45,000 barrels of oil equivalent per day, equivalent to approximately 250 million standard cubic feet of gas. BP Trinidad and Tobago completed the initial phase, which includes four wells, by the end of 2024. The project's second phase is scheduled to begin in the latter half of this year.

(With inputs from agencies.)