Country Report
Trinidad And Tobago upstream summary
Report summary
A top gas-producer in Latin America - Trinidad and Tobago is one of the highest gas-producing countries in the region. Gas reserves are mostly located offshore. The country has also seen a drastic decline in liquids production going from approx. 130,000 barrels a day in 2010 to 70,000 barrels a day in 2020. There is, however, some potential heavy oil upside at Petrotrin's offshore fields southwest of Trinidad. Although onshore potential is limited, prospectivity remains, both through ...
Table of contents
- Executive summary
- Key facts
- Location maps
- Key companies
-
Geology
- Introduction
- West Tobago basin
- Caroni sub-basin
- Central Range uplift
- Southern sub-basin
- Columbus sub-basin
- Atlantic basin
-
Exploration
- Licensing
-
Historical overview
- 1989 licensing round
- 1995 licensing round (Phase One)
- 1995 licensing round (Phase Two)
- 1996 licensing round (Phase Three - deepwater)
- 1999 licensing round
- 2003 offshore licensing round
- 2005 licensing round
- 2006 ultra-deepwater licensing round
- 2010 licensing round
- 2012 deepwater licensing round
- 2013 onshore bid round
- 2013 deepwater licensing round
- 2018 competitive bid round
- 2020 deepwater bid round
- 2022 shallow water and onshore competitive bid rounds
-
Drilling
- Drilling activity
- Columbus sub-basin
- Central Range uplift
-
Southern sub-basin
- Success rates
-
Reserves and resources
- Liquids
- Gas
-
Production
- Liquids
-
Gas
- Domestic demand
- Liquefied natural gas (LNG)
-
Infrastructure
-
Oil infrastructure
- Pipelines
- Refineries
-
Gas infrastructure
- Pipelines
-
Oil infrastructure
-
Policy and regulation
- Key legislation
- Regulatory body
-
State oil company
- Historical perspective
- Petrotrin
- National Gas Company
- State participation
- Licensing
-
Historical perspective
- Concession agreements
-
Current regime
- 1993 production sharing contract (Block E/Dolphin)
- 1994 model production sharing contract
- 1995 model production sharing contract
- 1996 model production sharing contract (deepwater areas)
- 2001 model production sharing contract
- 2003 model production sharing contract
- 2006 model production sharing contract
- 2010 production sharing contracts
- 2012 production sharing contracts
- 2013 production sharing contracts
-
Gas prices
- Historical gas prices (domestic)
- Current gas prices (domestic)
- Gas prices (LNG)
-
Fiscal terms
- Overview
- Upstream
-
Mid/Downstream
- Pipelines
- Gas utilisation
- Current fiscal terms
-
Production sharing contract (PSC)
- Basis
- Government equity participation
- Fiscal terms
- Bonuses, rentals and fees
- Royalty
- PSC production sharing
- PSC cost recovery
- PSC profit sharing
- Corporate income tax (petroleum profits tax)
- Additional petroleum tax (supplemental petroleum tax)
- Other taxes
- Fiscal treatment of decommissioning costs
- Product pricing
- Summary of modelled terms
- Sample cashflow
-
Concession
- Basis
- Government equity participation
- Fiscal terms
- Royalty
- Petroleum production levy
- Petroleum impost
- Additional petroleum tax (supplemental petroleum tax)
- Investment tax credit
-
Historical background
- Production sharing contracts
- Bonuses, rentals and fees
- PSC cost recovery
- PSC profit sharing
- PPT and other taxes
- Concession
-
Timeline
- 2017
- 2014
- 2013
- 2011
- 2010
- 2005
- 1974
- 1970
- 1969
-
Fiscal terms
- Royalty
- Supplemental petroleum tax (SPT)
Tables and charts
This report includes 55 images and tables including:
- Key facts: Table 1
- Country Map
- Liquids and Gas Production 2020
- Reserves and contingent resources at 01/01/2024
- Net Acreage 2024
- Map of Trinidad and Tobago's basins
- Exploration Drilling
- Reserves and resources: Table 1
- Liquids and Gas Production and Reserves
- Production: Table 1
- Production: Table 2
- Exploration: Table 1
- Exploration: Table 2
- Exploration: Table 3
- Exploration: Table 4
- Exploration: Table 5
- Exploration: Table 6
- Drilling Activity and Commercial Success Rates
- Production: Table 3
- Production: Table 4
- Liquids and Gas Production
- Infrastructure: Table 1
- Infrastructure: Table 2
- Oil Infrastructure
- Infrastructure: Table 3
- Gas Infrastructure
- Fiscal terms: Table 1
- Fiscal terms: Table 2
- Fiscal terms: Table 3
- Fiscal terms: Table 4
- Fiscal terms: Table 5
- Fiscal terms: Table 6
- Fiscal terms: Table 7
- Fiscal terms: Table 8
- Fiscal terms: Table 9
- Fiscal terms: Table 10
- Fiscal terms: Table 11
- Fiscal terms: Table 12
- Fiscal terms: Table 13
- Fiscal terms: Table 14
- Fiscal terms: Table 15
- Fiscal terms: Table 16
- Fiscal terms: Table 17
- Fiscal terms: Table 18
- Fiscal terms: Table 19
- Fiscal terms: Table 20
- Fiscal terms: Table 21
- Fiscal terms: Table 22
- Fiscal terms: Table 23
- Fiscal terms: Table 24
- Fiscal terms: Table 25
- Fiscal terms: Table 26
- Fiscal terms: Table 27
- Fiscal terms: Table 28
- Fiscal terms: Table 29
What's included
This report contains:
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