Repsol: offshore gas discovery in Trinidad and Tobago.
(CercleFinance.com) - Spanish energy group Repsol has made its largest gas discovery over the last five years offshore from Trinidad and Tobago, which represents the country's biggest find in a decade.
The discoveries by the exploration consortium, in which Repsol holds a 30% stake, with the remainder is held by BP, were made in two wells, located east of the island of Trinidad at a depth of 150 metres.
The drilling phase is expected to begin in the second half of 2018, with production starting in 2019.
Bankinter analysts say that this comes as very good news, which provides long-term visibility for the group, backing their buy rating on the stock.
The Spanish bank added that it appears that relations between BP, Repsol and Trinidad and Tobago are very good at present.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
The discoveries by the exploration consortium, in which Repsol holds a 30% stake, with the remainder is held by BP, were made in two wells, located east of the island of Trinidad at a depth of 150 metres.
The drilling phase is expected to begin in the second half of 2018, with production starting in 2019.
Bankinter analysts say that this comes as very good news, which provides long-term visibility for the group, backing their buy rating on the stock.
The Spanish bank added that it appears that relations between BP, Repsol and Trinidad and Tobago are very good at present.
Copyright (c) 2017 CercleFinance.com. All rights reserved.