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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.

Ben ASANTE Ghana Gas
Ghana - December 02, 2021

Ben Asante, CEO of the Ghana National Gas Company (Ghana Gas), talks to The Energy Year about how Ghana can leverage its natural…

Dominica partners with Trinidad for decarbonisation
Trinidad and Tobago - November 09, 2021

Kenesjay Green has signed an MoU with Climate Resilience Execution Agency for Dominica to develop green alternatives across the…


Trinidad and Tobago reports

More reports
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Farid Antar, managing director of Republic Bank (Ghana), talks to The Energy Year about how the Ghanaian economy has gained…

Trinidad and Tobago names new energy minister
Trinidad and Tobago - April 20, 2021

Trinidad and Tobago has appointed Stuart Young its new minister of energy and energy industries following the death of Minister…

Trinidad and Tobago - Point Lisas Industrial Port 2019

Trinidad and Tobago maps

Trinidad and Tobago – Point Lisas Industrial Port 2019

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    Trinidad and Tobago - March 11, 2021

    Trinidad’s NiQuan Energy has launched its GTL plant at Pointe-à-Pierre, the first commercial GTL plant in the Western…

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    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…

    Vernon Paltoo Trinidad Energy
    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 to encourage investment and foster a…

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

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    Curtis MOHAMMED
    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 benefits as a fuel and how the company is…



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