REPSOL DISCOVERED OIL

Spain's Repsol says it discovered oil with its TB14 well drilled on the TSP block offshore Trinidad and Tobago, upgrading the northern portion of Teak B field.

The well is outside the existing Teak field extension, east of the island of Trinidad. It tested at 1,200 b/d and is in commercial production. The company estimates 40 million bbl of oil in place.

Repsol said the discovery adds to the completion of the TB13 development well, which recently added nearly 1,400 b/d. The block's production averaged 10,900 b/d in 2013.

Repsol, the operator, has 70%. Petroleum Co. of Trinidad & Tobago and National Gas Co. of Trinidad & Tobago each have 15%.

Repsol and partners expect to complete at least two more wells this year.

ogj.com