Trinidad and Tobago can expect to see a boost in its supply of crude oil and further stability in its natural gas supply as the Block 3(a) Ruby development project begins production ahead of schedule. Operator BHP, advised that it is expected to announce first oil from the development in early May and first gas is expected to occur shortly after. On completion of all development activities later this year, the Ruby field is expected to produce up to 16,000 gross barrels of oil per day and 80 million gross standard cubic feet of natural gas per day.
The Ruby development is located in Block 3(a) immediately east of the Greater Angostura Field. Through its subsidiary NGC E&P (Netherlands) B.V., The National Gas Company of Trinidad and Tobago Limited (NGC) is a joint venture (JV) partner in the Ruby Project with operator BHP.
In July 2020, NGC and BHP signed a Gas Sales Contract (“GSC”) allowing NGC to purchase 100% of the gas produced from the Ruby field to add to its existing portfolio of natural gas supply. NGC as a joint venture partner, also is entitled to a share of the field’s oil production. This will be marketed as part of its Energy Marketing and Trading portfolio, providing valuable supplemental income to the Company.
