BP plc BP, the UK-based energy major’s Trinidad and Tobago unit (“BPTT”) has officially commenced production from its Cypre gas development offshore Trinidad, marking a milestone in the energy giant’s upstream growth strategy. The subsea project, located 78 kilometers off the southeast coast of Trinidad, is expected to deliver around 45,000 barrels of oil equivalent per day (boed) at peak production.

Cypre Supports BP’s Global Upstream Ambitions

Cypre is the second of BP’s 10 major upstream projects, expected to begin production between 2025 and 2027. Collectively, these developments are projected to add up to 250,000 boed in net peak production, forming a core part of BP’s reset strategy aimed at growing its upstream portfolio.

The Cypre development is BPTT’s third subsea venture, comprising seven wells tied back to the existing Juniper platform. The first phase of four wells was completed by the end of 2024, while the second is set to begin in the latter half of 2025.

Cypre marks another milestone in BPTT’s strategy to boost production from shallow water acreage by utilizing existing infrastructure. According to BPTT president David Campbell, the project underlines the company’s ongoing focus on maintaining stable output and meeting its current gas supply commitments.

The project highlights BP’s continued investment in Trinidad and Tobago’s energy sector. It also underscores the company’s collaboration with the government and local stakeholders to ensure energy security and economic development.

Cypre Fits Within BP’s Capital Plans

Cypre marks BP’s second major start-up of 2025, ensuing the initiation of production from the second development phase of the Raven field, offshore Egypt. The project aligns with BP’s expected upstream returns and capital expenditure plans. The Cypre field, located in the East Mayaro Block in 80 meters of water, is fully owned by BPTT — a joint venture between BP (70%) and Repsol (30%).

BPTT’s Growing Footprint in Trinidad

BP’s operations in Trinidad remain central to its global gas strategy. The company currently operates 12 offshore platforms, three subsea installations and two onshore processing facilities in the country, making it a critical hub for the energy major’s upstream activities.

With Cypre now online, BP is set to strengthen its gas production base in the region and further contribute to Trinidad and Tobago’s energy resilience.

BP’s Zacks Rank & Key Picks

BP currently carries a Zack Rank #3 (Hold).

Investors interested in the energy sector may look at some better-ranked stocks like Archrock Inc. AROC, Kinder Morgan, Inc. KMI and W&T Offshore, Inc. WTI. While Archrock presently sports a Zacks Rank #1 (Strong Buy), Kinder Morgan and W&T Offshore carry a Zacks Rank #2 (Buy) each. You can see the complete list of today’s Zacks #1 Rank stocks here.

Archrock is an energy infrastructure company based in the United States with a focus on midstream natural gas compression. AROC provides natural gas contract compression services and generates stable fee-based revenues.

Archrock’s earnings beat estimates in three of the trailing four quarters and met once, delivering an average surprise of 8.81%.

Kinder Morgan is a leading North American midstream player with a stable and resilient business model, largely driven by take-or-pay contracts, which ensure consistent earnings and facilitate reliable capital returns to shareholders. KMI operates one of the largest natural gas pipeline networks, positioning it to benefit from the projected increase in U.S. natural gas demand by 2030. 

Kinder Morgan’s earnings beat estimates in one of the trailing four quarters, met once and missed in the other two, delivering an average negative surprise of 1.85%.

W&T Offshore leverages its strong Gulf of Mexico assets, which offer low decline rates and significant untapped reserves. WTI recently expanded its portfolio with six shallow-water field acquisitions, adding substantial proven and probable reserves. Focused on high-return organic projects, WTI has maintained positive cash flows for 27 consecutive quarters.

W&T Offshore’s earnings beat estimates in one of the trailing four quarters, met once and missed in the other two, delivering an average negative surprise of 20.29%.

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