National Gas Company of Trinidad and Tobago (NGC) has signed a contract to purchase gas from the second phase of the project, which is expected to come online in the second half of calendar 2011.
BHP Billiton and its project partners will construct and install a new gas export platform alongside the existing facilities, which will have a design capacity of 280 million cubic feet per day.
"Today's announcement of the development of this second phase will help to grow the base business for BHP Billiton in Trinidad and Tobago'', BHP Billiton president of Trinidad and Tobago Vincent Pereira said.
Shares in BHP Billiton dropped seven cents to $36.33 by 11.59am AEST.
BHP Billiton holds a 45 per cent interest in the field and is operator of the joint venture, with Total holding a 30 per cent stake and Talisman a 25 per cent interest.
The Greater Angostura field is located about 40 kilometres off the east coast of Trinidad and has been in production since January 2005.
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