Asset report
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14 Pages

Trinidad and Tobago Trinidad exploration basin

Trinidad and Tobago Trinidad exploration basin

Report summary

The Trinidad basin in Trinidad & Tobago has over a century of exploration history, with over 2.62 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 where discoveries can be made. 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.

What's included?

This report includes 2 file(s)

  • Trinidad and Tobago Trinidad exploration basin PDF - 543.61 KB 14 Pages, 11 Tables, 14 Figures
  • Trinidad ZIP - 2.62 MB


Oil and gas exploration is an industry in constant motion, from technological breakthroughs to shifting supply and demand. The high costs of finding and developing new oil and gas fields that can be commercially developed has created a challenging atmosphere, with explorers increasingly seeing low returns, low value and slow progress.

This Exploration Basin report provides a detailed analysis of exploration of this basin, including discovery and development costs, location maps and information about licensing and fiscal terms. You'll also find information about discovery and development costs and full-cycle returns.

Explorers and advisors can use this report to understand the history and potential value of this basin.

Wood Mackenzie has access to historic data for over 450 basins and forecasts for more than 125 basins. We provide accurate information on the cost of exploration compared to the value of discoveries so that you can develop profitable strategies.

Our in-depth analysis gives you the information you need to navigate the ever-changing challenges of oil and gas exploration so you can make critical commercial decisions.

  • Key facts
  • Summary and key issues
    • Key issues include:
  • Location maps
  • Participation
  • Geology
  • Exploration
    • Wells drilled
  • Reserves and resources
    • Top discoveries (TYP period)
    • Play creaming curve and key play data
  • Development
    • Yet-to-find costs and underlying development assumptions
      • Southern Sub-basin (Oil)
  • Costs
  • Fiscal and regulatory
    • Licensing
    • Fiscal terms
  • Economic analysis
    • TYP and outlook economic analysis
    • Prospect economics
      • Southern sub-basin (Oil)
        • Expected monetary value
        • Full-cycle basin economics

In this report there are 25 tables or charts, including:

  • Key facts
    • Play level data
    • Assumptions
    • Key facts: Table 3
  • Summary and key issues
    • Value creation versus investment (TYP period)
    • Value creation versus investment (outlook period)
    • Summary and key issues: Image 3
  • Location maps
    • Exploration wells by play
  • Participation
    • Licensed exploration acreage
    • Expiry forecast of current licences
  • Geology
    • Key play characteristics
  • Exploration
    • Drilling activity by well type
    • Discoveries and success rate
  • Reserves and resources
    • Reserves and resources: Table 1
    • Reserves and resources: Image 1
    • Reserves and resources: Table 2
  • Development
    • Development: Table 1
  • Costs
    • Costs: Table 1
    • Exploration and appraisal spend
  • Fiscal and regulatory
    • Typical fiscal terms
  • Economic analysis
    • TYP value creation, spend and volume discovered
    • Outlook value creation, spend and YTF volume
    • Unit value of potential discoveries
    • Prospect breakeven prices
    • Economic analysis: Table 1
    • Full-cycle economic analysis
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