Asset Report

Trinidad and Tobago Trinidad exploration basin

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18 November 2016

Trinidad and Tobago Trinidad exploration basin

Report summary

The Trinidad basin in Trinidad & Tobago has over a century of exploration history, with over 2.67 billion barrels of reserves discovered. However, in recent years explorers have struggled to create value due to the small discovery sizes and low remaining prospectivity of this mature basin. PSC terms were introduced for the 2010 and subsequent licence rounds, which reduced government profit share and allow improved economics for discoveries. Explorers further benefit from low development costs and short lead times due to the abundant infrastructure in the basin. Within the basin the southern sub-basin play covers southern Trinidad, an important oil producing province (second only to the Columbus basin) and yields most of Trinidad's onshore fields plus the majority of the offshore Gulf of Paria fields. Our outlook in this report is confined solely to the oil play in this southern sub-basin; we identify the remaining yet-to-find resource and analyse the returns possible.

Table of contents

Tables and charts

This report includes 32 images and tables including:

  • Play level data
  • Assumptions
  • Price assumptions
  • Value creation versus investment (TYP period)
  • Value creation versus investment (outlook period)
  • Exploration wells by play
  • Licensed exploration acreage
  • Expiry forecast of current licences
  • Key play characteristics
  • Summary of discovery and development costs
  • Costs: Image 1
  • Costs: Image 2
  • Commerciality index
  • Drilling activity by well type
  • Discoveries and success rate
  • Basin creaming curve
  • Key basin data
  • Top discoveries (TYP period)
  • Forecast data by play (2016-2035)
  • Reserves and resources: Image 2
  • Reserves and resources: Table 4
  • Southern Sub-basin Oil
  • Typical fiscal terms
  • TYP value creation, spend and volume discovered
  • Outlook value creation, spend and YTF volume
  • Full-cycle economic analysis
  • Southern Sub-basin Oil
  • Unit value of potential discoveries
  • Prospect breakeven prices
  • Southern Sub-basin Oil
  • Southern Sub-basin Oil
  • Average value of future discoveries and implied acreage value

What's included

This report contains:

  • Document

    Trinidad Trinidad.zip

    ZIP 2.62 MB

  • Document

    Trinidad and Tobago Trinidad exploration basin

    PDF 2.75 MB

  • Document

    Trinidad and Tobago Trinidad exploration basin

    ZIP 5.26 MB

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