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Trinidad and Tobago Overview

Trinidad and Tobago

in figures

Oil Reserves200 million barrels

Oil Production87,000 bopd

Gas Reserves300 bcm

Gas Production34 bcm

Trinidad and Tobago: Poised for New Growth

Trinidad and Tobago is the largest producer of oil and natural gas in the Caribbean. In the early 1990s, the country’s hydrocarbons industry shifted from oil-dominated production to a market centred primarily on natural gas. In 2017, Trinidad and Tobago’s proven gas reserves were estimated at 300 bcm (10.6 tcf) and the country produced around 33.8 bcm (1.19 tcf) of gas. Due to a slowdown in upstream investment, the island has experienced a decline in natural gas production since 2014, something expected to continue in the near term. Because the country has such an abundant pool of gas resources, its gas processing and petrochemicals sectors have thrived. However, severe gas shortages in recent years have forced several midstream and downstream companies, including Atlantic and Methanol Holdings, to scale back activity.

Several new projects came on line or were sanctioned in 2017 and 2018 that are expected to raise overall gas production and help the state-owned National Gas Company bring gas supplies back up to adequate levels. BP Trinidad and Tobago’s Juniper and Trinidad Regional Onshore Compression (TROC) projects became operational in 2017. Juniper is expected to reach a production plateau of 16.7 mcm (590 mcf) per day, while TROC aims to increase the country’s overall gas output by 5.66 mcm (200 mcf) per day. Additionally, the super-major’s Angelin project came on line in 2019. Shell, DeNovo Energy and BHP Group have also contributed to Trinidad and Tobago’s gas hopes, with the latter in 2017 announcing a major discovery in the LeClerc play. The well was the first deepwater well to be drilled in the country, fuelling interest in the country’s unexplored deepwater acreage.

Oil production peaked at 193,000 bopd in 2007 and has suffered a steep decline since then, to 87,000 bopd in 2018. The fall in output is mainly attributed to the increasing difficulty of extracting resources from the country’s ageing fields, as well as low oil prices and subsequently decreased exploration efforts. In 2017 and 2018, headway was made in EOR projects aimed at mitigating the crude production decline. A recent study indicated the presence of 3 billion barrels of heavy oil in the country’s previously explored onshore and offshore acreage, putting EOR back into the spotlight. Companies have been turning their focus to mature areas, such as Perenco in the Teak, Samaan and Poui fields.

On top of the positive developments taking place in the country, Trinidadian companies expect to benefit from movements in neighbouring oil and gas producers. The country is uniquely positioned to serve as a hub for the region’s nascent hydrocarbons markets. Countries such as Guyana and Suriname are looking to take advantage of Trinidad and Tobago’s oil and gas expertise, as well as its port infrastructure.

The Oil & Gas Year Trinidad & Tobago 2019 was produced in collaboration with both the Energy Chamber and the Ministry of Energy and Energy Industries.

Paul Baay Touchstone
Interview
Trinidad and Tobago - November 12, 2020

Paul Baay, president and CEO of Touchstone Exploration, spoke in March 2020 to The Energy Year about the company’s latest work…

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Touchstone spuds Cascadura Deep-1 well in Trinidad
NEWS
Trinidad and Tobago - October 29, 2020

Touchstone Exploration has spudded the Cascadura Deep-1 well ahead of schedule, the company announced on Thursday.

The well…

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Vernon Paltoo Trinidad Energy
Interview
Trinidad and Tobago - October 28, 2020

Vernon Paltoo, president of National Energy Corporation (National Energy), talks to The Energy Year about how the company works…

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Dominic Rampersad PPGPL Trinidad
Interview
Trinidad and Tobago - October 26, 2020

Dominic Rampersad, president of Phoenix Park Gas Processors Limited (PPGPL), talks to The Energy Year about how the company…

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Curtis MOHAMMED
Interview
Trinidad and Tobago - October 21, 2020

Curtis Mohammed, president of NGC CNG, talks to The Energy Year about trends in the use of CNG in Trinidad and Tobago, its…

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Touchstone makes gas find in Trinidad
NEWS
Trinidad and Tobago - October 14, 2020

Touchstone Exploration has made a new gas discovery at the Ortoire block onshore Trinidad and Tobago, the company announced on…

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Conrad ENILL Chairman NGC GROUP OF COMPANIES
Interview
Trinidad and Tobago - October 05, 2020

Conrad Enill, chairman of the NGC Group of Companies, talks to The Energy Year about NGC’s role as an aggregator, opportunities arising for the company in Africa and…

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Mark LOQUAN, President of NATIONAL GAS COMPANY
Interview
Trinidad and Tobago - September 15, 2020

Mark Loquan, president of the National Gas Company of Trinidad and Tobago (NGC), talks to The Energy Year about the company’s approach to sustainability and the…

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Interview
Trinidad and Tobago - April 09, 2020

Rocío Medina-Bolívar, country representative for Trinidad and Tobago at the Inter-American Development Bank (IDB), talks to The Energy Year about how the bank is…

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Interview
Trinidad and Tobago - April 09, 2020

Eugene Tiah, executive chairman of Massy Energy and Industrial Gases, talks to The Energy Year about how the company is coping with the Covid-19 crisis. Massy Energy…

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