Apr 2004 Financial News

BHP Billiton, partners make oil discovery off Trinidad and Tobago

Apr 26, 2004

Curtis Williams
OGJ Correspondent

PORT OF SPAIN, Apr. 22 -- BHP Billiton has made an oil discovery with its Puncheon 1 exploration well drilled on Block 3a off the east coast of Trinidad and Tobago.

The well found a 60 ft net oil column and tested at 4,443 b/d of oil through a 40/64-in. choke. Puncheon 1 is the third well spudded in BHP's six-well exploration program on the block.

BHP is block operator with a 30% interest; partners are BG PLC, Total SA, and Talisman Energy Inc.

Block 3a is due north of BHP's Angostura field, which it discovered in 2001 and from which it expects to start producing 80,000 b/d of oil at yearend.

The company said it would continue to determine the exact size of the field over the coming months.

In Trinidad and Tobago's latest lease bid round, BHP and its partners have bid on the five blocks that surround existing BHP-operated acreage. Results of that bid round are expected within the next 2 weeks.

Source: Oil and Gas Journal