We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties. You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies. In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
BP Advances Cypre Gas Project in Trinidad, First Gas Set for 2025
Read MoreHide Full Article
BP plc’s (BP - Free Report) subsidiary BP Trinidad and Tobago (“BPTT”) is making significant strides toward achieving its goal of first gas from the Cypre subsea gas development project by 2025. Located off the southeast coast of Trinidad and Tobago, the project represents BPTT’s third subsea development in the region and is poised to enhance the country’s natural gas production capacity.
After securing the final investment decision in 2022, BP collaborated with Subsea Integration Alliance and Aquaterra Energy to advance the Cypre project. Although drilling was delayed, the first of seven wells was completed in February 2024. Currently, Subsea7's Seven Seas pipe-laying vessel is engaged in critical "transpooling" activities to connect the subsea infrastructure to BPTT's Juniper platform, leveraging pre-existing infrastructure to expedite operations.
During a recent visit to the Seven Seas vessel, BPTT executives and Trinidad’s Energy Minister, Stuart Young, praised the progress and local workforce involvement. Giselle Thompson, BPTT’s VP of Corporate Operations, emphasized the vessel’s role in installing flexible flowlines and commended the integration of local cadets in maritime operations training.
Minister Young underscored the government's commitment to boosting local capacity and maintaining the country’s competitive edge in energy markets. This partnership between BPTT and local stakeholders aligns with broader energy security goals for Trinidad and Tobago.
The Cypre project stands out for its operational efficiency and sustainability. Utilizing Juniper’s existing power infrastructure avoids additional power generation and reduces operating emissions. Upon completion, the development is expected to deliver 250-300 million standard cubic feet of gas per day, reinforcing BPTT’s role in addressing the country’s declining gas production.
Despite the optimism surrounding Cypre, Trinidad and Tobago’s natural gas production has been declining. Average production for the first half of 2024 was 2.48 billion cubic feet per day, down from 2.64 billion cubic feet per day in 2023. Former Energy Minister Kevin Ramnarine noted that projects like BP Cypre and EOG Mento will help offset production losses but may not spark a significant production surge.
BP’s Cypre project is a pivotal step in Trinidad and Tobago’s energy journey. With the first gas expected in 2025, the development supports the nation’s energy security and showcases BP’s commitment to sustainable operations and local workforce development.
Smart Sand is a low-cost producer of high-quality Northern White frac sand, an ideal proppant for hydraulic fracturing and various industrial applications. The company provides proppant and other logistics services for several companies in the oil and gas industry. With sustained oil and gas market demand, SND is expected to see growing demand for its services, reflecting a positive outlook.
FuelCell Energy is a clean energy company offering low-carbon energy solutions. It produces power using flexible fuel sources such as biogas, natural gas and hydrogen. The company designs fuel cells that generate electricity through an electrochemical process that combines fuel with air, reducing carbon emissions and minimizing the environmental impact of power generation. As such, FCEL is anticipated to play a crucial role in the energy transition by enabling industries and communities to shift from traditional fossil fuels to low-carbon alternatives.
Nine Energy Service provides onshore completion and production services for unconventional oil and gas resource development. The company operates across key prolific basins in the United States, including the Permian, Eagle Ford, MidCon, Barnett, Bakken, Rockies, Marcellus and Utica, as well as throughout Canada. With a sustained demand for oil and gas in the future, the demand for NINE’s services is anticipated to increase, which should position the company for growth in the long run.
Zacks' 7 Best Strong Buy Stocks (New Research Report)
Valued at $99, click below to receive our just-released report predicting the 7 stocks that will soar highest in the coming month.
Image: Bigstock
BP Advances Cypre Gas Project in Trinidad, First Gas Set for 2025
BP plc’s (BP - Free Report) subsidiary BP Trinidad and Tobago (“BPTT”) is making significant strides toward achieving its goal of first gas from the Cypre subsea gas development project by 2025. Located off the southeast coast of Trinidad and Tobago, the project represents BPTT’s third subsea development in the region and is poised to enhance the country’s natural gas production capacity.
After securing the final investment decision in 2022, BP collaborated with Subsea Integration Alliance and Aquaterra Energy to advance the Cypre project. Although drilling was delayed, the first of seven wells was completed in February 2024. Currently, Subsea7's Seven Seas pipe-laying vessel is engaged in critical "transpooling" activities to connect the subsea infrastructure to BPTT's Juniper platform, leveraging pre-existing infrastructure to expedite operations.
During a recent visit to the Seven Seas vessel, BPTT executives and Trinidad’s Energy Minister, Stuart Young, praised the progress and local workforce involvement. Giselle Thompson, BPTT’s VP of Corporate Operations, emphasized the vessel’s role in installing flexible flowlines and commended the integration of local cadets in maritime operations training.
Minister Young underscored the government's commitment to boosting local capacity and maintaining the country’s competitive edge in energy markets. This partnership between BPTT and local stakeholders aligns with broader energy security goals for Trinidad and Tobago.
The Cypre project stands out for its operational efficiency and sustainability. Utilizing Juniper’s existing power infrastructure avoids additional power generation and reduces operating emissions. Upon completion, the development is expected to deliver 250-300 million standard cubic feet of gas per day, reinforcing BPTT’s role in addressing the country’s declining gas production.
Despite the optimism surrounding Cypre, Trinidad and Tobago’s natural gas production has been declining. Average production for the first half of 2024 was 2.48 billion cubic feet per day, down from 2.64 billion cubic feet per day in 2023. Former Energy Minister Kevin Ramnarine noted that projects like BP Cypre and EOG Mento will help offset production losses but may not spark a significant production surge.
BP’s Cypre project is a pivotal step in Trinidad and Tobago’s energy journey. With the first gas expected in 2025, the development supports the nation’s energy security and showcases BP’s commitment to sustainable operations and local workforce development.
BP’s Zacks Rank & Key Picks
BP currently carries a Zack Rank #3 (Hold).
Investors interested in the energy sector may look at some better-ranked stocks like Smart Sand, Inc. (SND - Free Report) , FuelCell Energy (FCEL - Free Report) and Nine Energy Service (NINE - Free Report) . Each stock presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Smart Sand is a low-cost producer of high-quality Northern White frac sand, an ideal proppant for hydraulic fracturing and various industrial applications. The company provides proppant and other logistics services for several companies in the oil and gas industry. With sustained oil and gas market demand, SND is expected to see growing demand for its services, reflecting a positive outlook.
FuelCell Energy is a clean energy company offering low-carbon energy solutions. It produces power using flexible fuel sources such as biogas, natural gas and hydrogen. The company designs fuel cells that generate electricity through an electrochemical process that combines fuel with air, reducing carbon emissions and minimizing the environmental impact of power generation. As such, FCEL is anticipated to play a crucial role in the energy transition by enabling industries and communities to shift from traditional fossil fuels to low-carbon alternatives.
Nine Energy Service provides onshore completion and production services for unconventional oil and gas resource development. The company operates across key prolific basins in the United States, including the Permian, Eagle Ford, MidCon, Barnett, Bakken, Rockies, Marcellus and Utica, as well as throughout Canada. With a sustained demand for oil and gas in the future, the demand for NINE’s services is anticipated to increase, which should position the company for growth in the long run.