BP Announces First Gas At Mento Off Trinidad's Southeast Coast

BP p.l.c. BP on Thursday disclosed that BP Trinidad and Tobago (bpTT) confirmed that the Mento development has successfully begun producing gas.

This milestone was achieved through the secure connection of the initial discovery well. The drilling campaign for the remaining seven gross wells on the platform is now set to commence.

The Mento development is a 50/50 joint venture, with EOG Resources, Inc. EOG serving as the operator alongside bpTT.

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This development features a 12-slot, attended facility situated in acreage jointly licensed by bpTT and EOG, located off Trinidad’s southeast coast.

Mento is one of bp’s 10 major projects slated to commence worldwide between 2025 and 2027, as part of bp’s broader strategy to expand its upstream operations.

Production from Mento is expected to contribute significantly to the 250,000 barrels of oil equivalent per day (boed) combined peak net production anticipated from these 10 projects.

bpTT president David Campbell said, “For bpTT, this represents our second start up this year and it is tangible proof of the benefits of partnering with others to bring much needed gas into production. The bpTT/EOG partnership is progressing well as we continue to work on our next joint venture project Coconut.” 

Investors can gain exposure to the stock via Precidian ETFs Trust BP plc ADRhedged BPH and Texas Capital Texas Oil Index ETF  OILT.

Price Action: BP shares are trading higher by 0.73% to $29.15 premarket at last check Thursday.

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