By Max Clarke
BP have been awarded a 100% interest in two deepwater oil extraction blocks in the Caribbean.
The blocks will double the maligned oil giant’s long-standing interests off the coast of Trinidad and Tobago.
“BP has a long history and major business in Trinidad and Tobago, and we are keen to participate in the next phase of exploring the country’s resources,” said Bob Dudley, BP group chief executive. "These awards mean BP has gained access to 31 new upstream blocks across the world since July last year, a significant step up in new access.
BP faced an international backlash in the aftermath of the Deepwater Horizon oil spill, shying the London headquartered energy giant away from further deepsea forays. In may 2001, however, BP successfully capped a deepwater well off the coast of Angola in a simulated spill. New technology developed over the past 12 months has significantly improved the security of deepwater exploration and extraction, BP assert.
“Increasing our efforts in exploration and applying our deepwater experience and expertise to new basins around the world is a key part of BP’s strategy to deliver long-term value growth. We are pleased to see the confidence that governments across the world have placed in BP to carefully explore and develop resources,” continued Dudley.
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