Congratulations to the bpTT team on their successful completion of the Cypre project!

The Cypre subsea development is made up of 7 wells, BpTT announced first gas from Cypre in March 2025 after completion of Phase 1 with 4 wells. Today we’re glad to see the additional 3 wells for Phase 2 are now online, significantly ahead of schedule.

In fact, “ahead of schedule” is the new norm under this second administration of Prime Minister the Honourable Kamla Persad-Bissessar.

These wells were originally planned to come online in 2026. However, in collaboration with the MEEI, bpTT was able to accelerate first gas for Phase 2 into 2025. This efficiency augers well for our natural gas supply. At peak production, Cypre is expected to deliver 45,000 boe/d (~250mmscf/d).

This development is particularly pleasing at this time since the BP Cypre project is the result of the incentives provided by the Peoples Partnership (PP) Government in 2014. Cypre is based on natural gas discovered by the Macadamia-1 well, drilled in 2017, combined with the South East Queens Beach (SEQB) gas reservoirs. Significant volumes of natural gas that will be produced from Cypre are from the Macadamia discovery. 

Drilling of Macadamia-1 commenced on 25th March 2017. BP’s investment in the Macadamia-1 exploration well arose because of the accelerated capital allowance for exploration which was passed into law in April 2014 by the passage of the Finance Bill, 2014. This exploration incentive had a sunset clause meaning that it expired on December 31, 2017. It was for that reason BP drilled the Macadamia exploration well in March 2017 and the Savannah exploration well (started on 28th December 2016). 

The Savannah exploration well resulted in the Matapal project which has been in production since September 2021. If the exploration incentive was not provided in 2014, these two projects would not have materialized, and our natural gas production would be much worse than it currently is.

The energy sector remains integral to our economy and resources from the Cypre project play an important role in strengthening T&T’s natural gas supply. We look forward to continued investment as we advance our energy sector together.

I have also taken note of the hastily posted statement of the former Minister of Energy. When we speak of establishing the legal framework for attracting and incentivizing investment, his claim to fame to this project is that he went to visit the pipes.

Dr the Honourable Roodal Moonilal M.P.

Minister of Energy and Energy Industries