<article><p class="lead">Australia- and UK-listed resources firm BHP has started oil production at the Ruby oil and gas project offshore Trinidad and Tobago. Ruby will have capacity to produce 16,000 b/d of oil and 80mn ft³/d (2.26mn m³/d) of gas at its peak.</p><p>Drilling and completion activities at Ruby are ongoing, with subsequent wells to be placed into production in the April-June and July-September quarters of 2021, and project completion is expected by the end of September, BHP said today.</p><p>BHP is the operator of Ruby with a 68.46pc interest and the state-controlled National Gas Company of Trinidad and Tobago owns the remaining 31.54pc, BHP said. </p><p>BHP <a href="https://direct.argusmedia.com/newsandanalysis/article/1958194">approved funding</a> worth $283mn for its share of the development costs covering the Ruby field in August 2019.</p><p>BHP has <a href="https://direct.argusmedia.com/newsandanalysis/article/2207331">maintained its production guidance</a> of 95mn-102mn bl of oil equivalent (boe) (260,000-280,000 boe/d) for the 2020-21 fiscal year to 30 June, although it expects total output to be at the higher end of the range. Production for the July-March period was 277,000 boe/d, down by 8pc from 300,000 boe/d during the same period in 2019-20.</p><p class="bylines">By Kevin Morrison</p></article>
