Opportunities with Petrotrin
Opportunities with Petrotrin
Opportunities with Petrotrin
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Petroleum Company<br />
of Trinidad and Tobago Limited<br />
<strong>Opportunities</strong> <strong>with</strong> <strong>Petrotrin</strong><br />
Khalid Hassanali<br />
President<br />
Energy Chamber Luncheon<br />
17 th October 2012
Company Overview<br />
PETROTRIN is the largest integrated oil and gas company in Trinidad and Tobago (T&T)<br />
Overall<br />
Leadership<br />
Ownership<br />
Largest integrated Oil and Gas Company in T&T, a major revenue generator <strong>with</strong> a leading<br />
position in oil and gas refining as well as in exploration and production<br />
Sales Revenue (e) for FY2011/12 of TT $ 40 Billion<br />
100% owned by the Government of the Republic of Trinidad and Tobago<br />
Government Take (e) for FY2011/12 of TT $ 1.6 Billion (Royalties, SPT , PPT, Levy)<br />
Location<br />
Strategically located to supply the Caribbean, Central America and the U.S. markets resulting in a<br />
transportation-cost advantage<br />
Crude Oil<br />
Producer<br />
Marketing<br />
and<br />
Refining<br />
Leading producer of crude oil in T&T - Average crude production of approximately 35KBPD in<br />
FY2011/12 – approx. 42% of the country's total crude output<br />
Oil and Gas production from Joint Ventures 30KBOEPD<br />
Owner and operator of the sole crude oil refinery in T&T, the Pointe-a-Pierre Refinery<br />
Full conversion capacity of up to 168,000 bpd and average throughput of approximately 127,650<br />
bpd<br />
Leading supplier of petroleum products in the regional CARICOM - 49% market share<br />
Clients<br />
Long standing sales relationships <strong>with</strong> international Oil & Gas companies – Shell, Exxon and<br />
Chevron account for more than 23% of PETROTRIN’s refined products sales.<br />
(e) - estimated<br />
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<strong>Petrotrin</strong> in National Development<br />
Business<br />
Investor<br />
Invested TT $24.5 billion during the period 2002 to 2011. FY 12/13 Capex of TT$ 4.0 Billion<br />
Operating expenditure including salaries and wages, materials , contracts, utilities, etc. amounted<br />
to TT $29.4 billion. FY 2012/13 Opex of TT$4.5 Billion<br />
Contributor to<br />
the Treasury<br />
Over TT $32.0 billion paid in royalties, SPT and Petroleum Profits Tax over the period 2002 to<br />
2011<br />
Some US $ 27 billion (TT $177.6 billion) earned in foreign exchange between 2002 and 2011<br />
Developer of<br />
indigenous<br />
business<br />
capability<br />
Over 700 firms registered as contractors > 75% Local<br />
Over 2800 registered suppliers to the company > 75% Local<br />
Lease Operatorships ( 24) , Farmouts (10) and IPSC (5)<br />
Community<br />
Relations<br />
<strong>Petrotrin</strong> fosters and maintains close relations <strong>with</strong> the communities adjacent to its operations<br />
and extends its corporate philanthropy to the wider national community<br />
Human<br />
Developer<br />
We cater for our employees as well as other citizens of Trinidad and Tobago through – Employee<br />
training, Employee education initiatives, Leadership development, Undergraduate and Graduate<br />
Trainee Programmes, OJT and Apprenticeship<br />
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<strong>Petrotrin</strong>’s Business Model / Strategic Imperatives<br />
Crude Imports<br />
FY 2011/12 Refined<br />
products sold to:<br />
Local 21%<br />
Regional 23 %<br />
Extra Regional 13%<br />
International 43%<br />
Upstream Producing<br />
Fields<br />
Refinery<br />
Strategic Imperatives<br />
• Institute culture of accountability, efficiency, HSE and risk<br />
management<br />
• Increase reserves and production<br />
• Maximize returns on refinery investment<br />
Markets<br />
• Cost Management<br />
4
Exploration and Production<br />
5
Joint Ventures – Participating Interest<br />
BLOCKS<br />
EQUITY<br />
INTEREST<br />
JOINT VENTURE PARTNERS<br />
ONSHORE<br />
Moruga West 40.0% Neal and Massy Energy Resources Limited<br />
Central Block 35.0% BG Trinidad Central Block Limited<br />
SW Peninsula 27.5% Trinidad Exploration and Development Unlimited<br />
Parrylands 'E' 25.0% New Horizon Exploration Trinidad & Tobago Unlimited<br />
Central Range Deep 20.0% Voyager Energy (Trinidad) Ltd, Parex Resources (Trinidad) Ltd.<br />
Central Range Shallow 35.0% Voyager Energy (Trinidad) Ltd, Parex Resources (Trinidad) Ltd.<br />
Guayaguayare Deep 20.0% Voyager Energy (Trinidad) Ltd<br />
Guayaguayare Shallow 35.0% Voyager Energy (Trinidad) Ltd<br />
OFFSHORE<br />
East Brighton (Sub-Area B) 30.0% Primera East Brighton Limited / SOOGL Antilles (Trinidad) Ltd.<br />
Pt. Ligoure 50.0% Ten° North Energy Limited<br />
Pelican 16.0%<br />
EOG Resources Trinidad Limited / The National Gas Company of Trinidad and<br />
Tobago Limited (NGC)<br />
SECC 16.0% EOG Resources Trinidad Limited / NGC<br />
NCMA Unitized Area 19.5%<br />
BG Trinidad & Tobago Limited / ENI Trinidad & Tobago Limited / NSGP (Ensign)<br />
Limited<br />
TSP 15.0% Repsol YPF S.A. (Repsol E&P T&T Limited) / NGC<br />
Block 1A 20.0% Centrica (Horn & Wren) Limited<br />
Block 1B 20.0% Venture North Sea Gas Limited<br />
Block 3A 15.0%<br />
BHP Billiton (Trinidad 3-A) Ltd / Chaoyang Petroleum (Trinidad) Block 3A Limited<br />
/ Kerr-McGee TT E&P Ltd / Elf Exploration Trinidad B.V.<br />
Mayaro Guayaguayare 30.0% Sonde Resources Trinidad and Tobago Limited<br />
Block 22 10.0% Centrica Resources Limited<br />
Galeota 35.0% Bayfield Energy (Galeota) Limited<br />
Block 2ab 35.0%<br />
Centrica Resources (Armada) Limited, Niko Resources Trinidad and Tobago<br />
Limited, Voyager Energy (Trinidad) Ltd.<br />
NCMA2 20.0% Niko Resources Trinidad and Tobago Limited, RWE Dea AG<br />
NCMA3 20.0% Niko Resources Trinidad and Tobago Limited<br />
NCMA4 20.0% Venture North Sea Oil Limited
Exploration and Production<br />
Strategic Focus Areas<br />
• Reversing the declining trend of reserves and production<br />
from a mature asset base while developing new fields<br />
• Controlling cost of operations<br />
• Improving Asset Integrity<br />
• Pursuit of External <strong>Opportunities</strong><br />
8<br />
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Exploration and Production<br />
Key Upstream Activities<br />
• Exploration and subsequent development activity following 3D seismic on Land .<br />
• Accelerated exploitation of Trinmar Licence<br />
– SWS reactivation and development<br />
– Cluster 6 (Jubilee)<br />
• Improving recovery from stripper land operations (Enhanced Oil Recovery<br />
(EOR), Field Optimization etc.)<br />
• Reactivation of idle wells<br />
• Monetization of Trinmar heavy oil reserves<br />
• Upgrading infrastructure on land and offshore<br />
• Drilling and Workovers<br />
– Trinmar 1 drilling rig yr and 2 workover rig yrs<br />
– Land 1.5 drilling rig years 18 workover rigs (10 Contractor)<br />
• Land Bid Round<br />
– <strong>Petrotrin</strong> to facilitate Land bid round on behalf of MEEA . Areas outside of existing producing<br />
fields to be put out for bid<br />
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SWS CONTRACTED FLOATING<br />
FACILITY(BEFORE RETROFIT)
CLUSTER 20 PREP WORK (before works)
SW Soldado Cluster 20 (Prep work ongoing)
Refining and Marketing<br />
13
Refining and Marketing<br />
Clean Fuels Upgrade<br />
– Gasoline Optimisation Programme is almost complete. Last plants are<br />
being commissioned. GOP comprised<br />
• New Isomerisation Unit<br />
• New CCR Platformer Unit<br />
• New Acid/ Alkylation Train<br />
• Upgraded FCCU<br />
• Associated offsites and Utilities<br />
– Ultra Low Sulphur Plant under construction – 86.3 % Complete<br />
(Construction)<br />
Margin Maximisation<br />
– Assessing opportunities to move further down refined products value<br />
chain<br />
• Expansion of local bunkering<br />
• <strong>Opportunities</strong> in external markets<br />
#8CDU Turnaround ( 49 Days )<br />
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Gasoline Optimisation Plants<br />
Acid Alkylation Complex<br />
FCCU<br />
CCR Platformer<br />
Isomerisation Unit<br />
15
ULSD CONSTRUCTION<br />
16
ULSD Construction<br />
17
Other <strong>Opportunities</strong><br />
• Supply of services and systems in respect to enhancing our water<br />
and air quality<br />
– Consultancy services<br />
– Mitigation treatment systems<br />
– Technology application<br />
• CDM project opportunities<br />
– Project implementation opportunities<br />
– Leverage <strong>Petrotrin</strong>’s POA to include other projects<br />
• Other <strong>Opportunities</strong><br />
– Refinery water supply from Sea Lots<br />
– Land and Trinmar pipeline and facilities Maintenance<br />
– Chemical Treatment of pipelines<br />
– Debottlenecking production facilities at Trinmar<br />
– Supply of marine craft<br />
– Offshore residential facilities<br />
18
Q&A
WILD FOWL TRUST AT POINTE-A-PIERRE<br />
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