Joshey Mahabir, general manager for National Helicopter Services, talks to TOGY about Trinidad’s new deepwater market, challenges facing transportation companies in…
READ MORETrinidad and Tobago’s Energy Industry
Hon. Stuart YOUNG
Minister of Energy and Energy Industries
TRINIDAD AND TOBAGO
Trinidad and Tobago’s Energy Industry In Figures
Oil reserves200 million barrels
Oil production77,000 bopd
Gas reserves300 bcm
Gas production24.7 bcm
Transition in the Caribbean Oil & Gas Sector
Trinidad and Tobago’s oil and gas industry has had operations for more than a century and now supports the largest hydrocarbons production in the Caribbean. In the 1990s, the country successfully transitioned from an oil-dominated industry towards becoming a major gas producer. The country sits in the top ten list of LNG exporters in the world, with one of the largest LNG processing plants in the Western Hemisphere. The energy industry remains a key pillar for the economy, representing around 45% of its GDP despite the country’s efforts to diversify its industrial output. The upstream sector is overseen by NOC National Gas Company and has attracted many international stakeholders such as BP, Shell, Proman, Perenco and BHP.
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. While traditional hydrocarbons reserves have dwindled, the island nation has made significant recent finds in its deepwater blocks to balance the country’s gas reserves with its production rate.
“The government is securing investors for the new industrial estates in its drive to expand foreign direct investment, diversify the economy and to create employment opportunities for the people of Trinidad and Tobago. The focus on the energy industry is to increase production of both oil and natural gas,” Franklin Khan, former minister of energy and energy industries, told The Energy Year. “We are now in full thrust towards a trajectory of sustained growth and development and contributing to our sovereign wealth whilst stimulating foreign direct investment in our economy. It is a clear signal that our energy sector is the place to invest.”
Trinidad and Tobago’s Energy Industry Interviews and News
Curtis Boodoo of the University of Trinidad and Tobago talks about why continuous education is important for engineers and…
READ MORERussell Boodoo of TOSL Engineering talks about the company’s role in supporting Trinidad's energy transition.
READ MORETrinidad and Tobago reports
More reportsTouchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal.
READ MORENarvin Salick of Gyrodata Trinidad talks about the company's acquisition by SLB and its newest service offering.
READ MOREAs an established global petrochemicals exporter, Trinidad is well positioned to take the lead as a green commodity producer.
READ MOREWoodside Energy is seeking improved fiscal terms for developing Trinidad and Tobago's Calypso deepwater gas project.
READ MOREShane McKee, country manager for Weatherford’s Trinidad operations, talks to TOGY about the company’s current operations, challenges facing hydrocarbons firms in…
READ MORETOGY talks to Ainsley Gill, CEO and director of NiQuan Energy Trinidad, about the company’s plant in Trinidad and Tobago and future gas-to-liquids (GTL) opportunities.…
READ MORETouchstone Exploration (Trinidad) country manager Michael Loewen talks to TOGY about how the modification of royalty schemes and a more collaborative approach to…
READ MORESapuraKencana has signed agreements to the tune of USD 382 million, the Malaysian oilfield services major said Thursday.
The majority of the work will be executed…
READ MOREBP has awarded Rowan for 300 days of offshore drilling work in Trinidad and Tobago, the US offshore drilling contractor announced in its fleet status report…
READ MOREWood Group has been awarded a global subsea contract by BP, the UK-listed subsea services provider announced on Thursday. The financial details of the contract have yet…
READ MORETrinidadian oil and gas company Trinity Exploration & Production will sell its interests in several assets to Canada’s Touchstone Exploration. The agreement will…
READ MOREThe London producer LGO Energy announced on Tuesday that it had struck oil in the GY-678 well in its Groudon field holding in Trinidad in Tobago.
“Well GY-678,…
READ MOREThe US exploration and production company Range Resources has spudded the first of a 22-well development in its Trinidad holdings, the company announced in a Monday…
READ MOREWHOSE PLATFORM IS THIS?
ASK US
- Do you have a question for The Energy Year about oil and gas?
- If we know, we’ll tell you.
- If not, we’ll ask the experts in the field.