BP to seek oil/gas in deep Atlantic near Trinidad

PORT OF SPAIN May 15 (Reuters) - BP Trinidad and Tobago (BPTT) plans to explore new, deep Atlantic waters for oil and gas resources following the signing of two production sharing contracts with the Caribbean state's government.

"We are excited to explore for new resources in this under-explored deep water region," Norman Christie, president, BPTT said in a company statement on Tuesday.

The unit of global oil giant BP is the largest producer of hydrocarbons in Trinidad and Tobago, with average production in 2011 of 408,000 barrels of oil equivalent a day. It was awarded blocks 23(a) and TTDAA 14 in the 2010/2011 deepwater competitive bid round last July.

Block 23(a) is just over 1,000 square miles (2,600 sq km) while Block TTDAA 14 is about 385 square miles (1,000 sq km). Both are in water depths that average more than 6,560 feet (2,000 meters).

BPTT's operations account for more than half of Trinidad and Tobago's natural gas production and 12 percent of BP's global production.