TN PETRÓLEO

US oil major Chevron (NYSE: CVX) reported Chevron Trinidad & Tobago Resources and the UK`s BG Group (NYSE: BGR) have entered into a gas sales agreement with Trinidad & Tobago`s National Gas Company (NGC).

Chevron and BG will supply NGC with 220Mf3/d (6.23Mm3/d) for 11 years with a four-year extension option, Chevron said in a statement. Deliveries are expected to begin in 2009.

The natural gas is expected to be sourced from the Dolphin field roughly 52 miles (84km) off the east coast of Trinidad in the East Coast Marine Area (ECMA). Chevron and BG each have a 50% working interest in ECMA.

Four new development wells are planned to provide the additional gas to be delivered to NGC "to meet the island`s increasing demand for natural gas," said Ali Moshiri, Chevron Latin America business unit managing director and Chevron Trinidad & Tobago Resources president.