Ruby

Ruby Oil and Gas Project Profile

Location

The Ruby oil and gas project is located offshore in Block 3(a) of Trinidad and Tobago, approximately 28 miles (45 kilometers) northeast of the island of Trinidad.

Project Details

• Operator and Ownership: The project is operated by BHP, which holds a 68.46% interest. The National Gas Company of Trinidad and Tobago Limited holds the remaining 31.54% interest.
• Discovery and FID: The field was discovered in 2006, and the Final Investment Decision (FID) was made in 2019.

Production and Reserves

• Production Capacity: At its peak, the Ruby project is expected to produce up to 16,000 gross barrels of oil per day and 80 million gross standard cubic feet of natural gas per day.
• Reserves: The project has estimated recoverable 2C resources of 13.2 million barrels of oil and 274 billion cubic feet of natural gas.
• Actual Production: As of 2022, the field is producing approximately 5.84 million barrels of oil per year and 826.84 million cubic meters of gas per year.

Development and Infrastructure

• Wells and Facilities: The project involves five production wells and one gas injector well tied back to existing operated processing facilities. The development utilizes the latent capacity of these existing facilities.
• Seismic Survey: An Ocean Bottom Node (OBN) seismic survey, acquired in 2018, was crucial in illuminating and optimally positioning the development wells.
• Contractors and Installation: McDermott International Inc. was contracted for the subsea umbilicals, risers and flowlines (SURF), transportation, and installation of the platform and flowlines. The DLV 2000 vessel was used for these operations.

Investment and Timeline

• Investment: BHP approved a $283 million investment for the project, with the total investment, including pre-commitment capital, nearing $500 million.
• Production Start: First oil production was announced in May 2021. Drilling and completions activities were ongoing, with subsequent wells planned for production in the second and third quarters of 2021. The project was expected to be completed by the third quarter of 2021.

Significance and Challenges

• Strategic Alignment: The Ruby project aligns with BHP’s strategy of maximizing value from existing assets and bringing competitive near-term value and volume growth.
• Operational Milestone: Achieving first oil safely and ahead of schedule was a significant milestone, especially given the challenges posed by the global pandemic.

Partners and Stakeholders

• Industry and Government Partners: The project involved close collaboration with industry partners and the Government of Trinidad and Tobago, reflecting BHP’s continued commitment to operations in the region.