Pro­duc­tion is due to start in Sep­tem­ber at the Greater An­gos­tu­ra field lo­cat­ed in block 2C, ap­prox­i­mate­ly 38km off the north-east coast of Trinidad.

The field, op­er­at­ed by BHP Bil­li­ton, is in the east­ern Trinida­di­an sec­tor of the Venezuela basin in rel­a­tive­ly shal­low wa­ters and is op­er­at­ed by BHP Bil­li­ton.

The en­er­gy com­pa­ny will in­vest an es­ti­mat­ed $400 mil­lion in the phase three de­vel­op­ment of the field, a three-well de­vel­op­ment which start­ed with the drilling of a well in 5,000 ft of wa­ter us­ing Joe Dou­glas jack-up rig.

The in­te­grat­ed oil and gas de­vel­op­ment us­es a cen­tral pro­cess­ing plat­form which is con­nect­ed to stor­age fa­cil­i­ties at Guayagua­yare by a pipeline.

From Guayagua­yare, the pro­duc­tion is trans­ferred to of­fload­ing to tankers in Guayagua­yare Bay by means of an ex­port pipeline.

The project is ex­pect­ed to yield 2.8 mil­lion bar­rels of in­cre­men­tal oil and 400 bil­lion cu­bic feet (bcf) to 500bcf of nat­ur­al gas and is ex­pect­ed to yield a se­cure sup­ply to T&T by pro­duc­ing ap­prox­i­mate­ly 100mm­scfd of nat­ur­al gas this year.

The phase three de­vel­op­ment is pro­ject­ed to add up to 1.75 tril­lion cu­bic feet (tcf) to the en­tire An­gos­tu­ra de­vel­op­ment.

BHP Bil­li­ton dis­cov­ered hy­dro­car­bons in block 2C in 1999 by drilling An­gos­tu­ra-1 well, fol­lowed by phase one de­vel­op­ment of the field.

Oil pro­duc­tion from the field start­ed in 2005. Phase II marked the de­vel­op­ment of the area's gas re­serves and achieved gas pro­duc­tion in 2011.

The third phase of the mul­ti-phased project was an­nounced in No­vem­ber 2013 af­ter an agree­ment was signed be­tween the op­er­a­tor and Gov­ern­ment.

Ac­cord­ing to the terms of agree­ment, the pro­duc­tion shar­ing con­tract for the as­set will be ex­tend­ed, by five years, up to 2026.