Repsol has made a new hydrocarbons discovery in the Teak field, offshore Trinidad and Tobago, in the TSP block east of the island of Trinidad. The newly-discovered area is estimated to contain over 40 mbl of oil in place, which increases the field’s current reserves, extends its productive life and adds new output.
Repsol operates the field with a 70% interest, partnered by co-venturers Petroleum Company of Trinidad and Tobago (Petrotrin) and The National Gas Company of Trinidad and Tobago (NGC), with a 15% stake each. Repsol and its partners are carrying out a drilling campaign to add new resources and production to the TSP block, which has been producing since the 1970s. The programme includes new drilling throughout 2014.
Repsol has been operating in Trinidad and Tobago since 1995. It currently holds rights over seven offshore blocks. Repsol’s production in the country averaged 135,046 boe/d in 2013. At the end of 2013, Repsol has hydrocarbons reserves in Trinidad and Tobago totalling 325.3 mboe.