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    BP.   GB0007980591

BP PLC

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BP's Matapal Project Achieves First Gas Ahead of Schedule

09/20/2021 | 08:36am EDT

By Joe Hoppe

BP PLC said Monday that its Matapal project offshore Trinidad has safely achieved first gas, ahead of schedule and under budget despite coronavirus-pandemic-driven constraints.

The British energy company said that Matapal--BP Trinidad and Tobago's second subsea development--is comprised of three wells, with initial production expected to be in the range of 250 million to 350 million standard cubic feet of gas a day, once all wells are full ramped up.

Fabrication work on Matapal first began in 2019, requiring modification to the existing Juniper platform on the site as well as construction and installation of new subsea equipment.

"We are committed to a strong energy future in Trinidad and Tobago and this project plays a critical role in delivering that," BP Trinidad and Tobago President Claire Fitzpatrick said.

Write to Joe Hoppe at joseph.hoppe@wsj.com

(END) Dow Jones Newswires

09-20-21 0835ET

Stocks mentioned in the article
ChangeLast1st jan.
BP PLC -0.54% 361.65 Delayed Quote.41.86%
REPSOL S.A. -0.55% 11.516 Delayed Quote.39.59%
WTI -0.17% 82.308 Delayed Quote.69.35%
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Financials (USD)
Sales 2021 172 B - -
Net income 2021 13 673 M - -
Net Debt 2021 39 081 M - -
P/E ratio 2021 7,38x
Yield 2021 4,35%
Capitalization 98 757 M 98 619 M -
EV / Sales 2021 0,80x
EV / Sales 2022 0,74x
Nbr of Employees 63 600
Free-Float 94,0%
Chart BP PLC
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BP plc Technical Analysis Chart | BP. | GB0007980591 | MarketScreener
Technical analysis trends BP PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 4,96 $
Average target price 5,26 $
Spread / Average Target 5,85%
EPS Revisions
Managers and Directors
Bernard Looney Chief Executive Officer & Director
Murray Auchincloss Chief Financial Officer & Director
Helge Lund Chairman
Gordon Young Birrell Executive Vice President-Production & Operations
Paula Rosput Reynolds Senior Independent Director
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