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ENERGY Caribbean Yearbook (2013-14)

Countries trinidad and

Countries trinidad and tobago A year of heavy drilling In 2013 Trinidad and Tobago’s energy sector should experience its busiest year for a very long time. Hundreds of millions of dollars will be spent drilling over 100 wells of all types – exploratory, developmental and recompletions, plus workovers to keep declining wells flowing. Virtually every company has plunged into a drilling programme, including bpTT, BG, Repsol, EOG Resources and Centrica Energy. Niko Resources and Parex will be sinking wells, as will Petrotrin, which intends to be busy both onshore and in its Gulf of Paria Trinmar unit. Large companies • BPTT says it may drill another appraisal well in the Savonette producing field, where it found a trillion cubic feet (tcf) of proven reserves in November 2012, to see if it can bump that up even further. • BG Trinidad and Tobago is launching its four-well development drilling programme for the Starfish discovery. • EOG Resources will be drilling one exploration and three development wells in its Osprey field in block 4a. • Centrica Energy, which so far has no production of its own in Trinidad and Tobago, is sinking an appraisal well to its Cassra discovery in block 22 north of Tobago, as well as drilling an exploratory well, Jasmine, in its NCMA 4 block and an appraisal well to the Iris discovery. Drilling in Fyzabad (courtesy Petrotrin) • Repsol says it will drill two appraisal wells and six in-fill wells in its Teak/Samaan/Poui block offshore Trinidad’s east coast. • Petrotrin, already the country’s largest single crude producer, is expected to drill 25 development and enhanced oil recovery wells onshore, while undertaking rig workovers to bring back on line as many as possible of the 57 wells still shut-in in its most productive Trinmar field, South West Soldado. • BHP Billiton has the dubious distinction of being the only large company not sinking any wells in 2013, though it will be signing off on the four deep water blocks it was awarded in the 2012 deep water bid round, TTDAA 5-6 and TTDAA 28-29. It will then have to start a work programme, which will include seismic acquisition and exploratory drilling in subsequent years. Medium/small foreign and local companies • Trinity Exploration and Production, mainly locally-owned but a member of the Alternative Investment Market in London, plans four exploratory wells split between its Point Ligoure/Guapo Bay/Brighton Marine acreage in the Gulf and its newly-acquired Galeota block off the southeast coast, taken over from the former Bayfield Energy, plus 12 development wells onshore and eight in Galeota. • Touchstone Exploration, working through its subsidiary, Territorial, plans 16 development wells in its various land blocks plus 2 recompletions. • Range Resources will be drilling in all three of its licences: Morne Diablo (40 wells), South Quarry (up to 10 wells) and Beach Marcelle (6 existing wells to be deepened). • Leni Gas and Oil will drill one exploratory well in Moruga North and two development wells in Goudron. • Niko Resources will embark on its NCMA 2 block work programme with one exploratory well • Parex is supposed to begin its own exploration with one exploratory hole in the Central Range Shallow and Deep blocks and an appraisal well to its Snowcap discovery in the Moruga E block. Besides this extensive drilling activity, two block auctions are expected in 2013, for three blocks on land and for more acreage in the deep water. Two bid rounds in the same year are rare, but the country needs to identify new crude reserves to stop the haemorrhage in oil production, and also needs new gas reserves to underpin the heavy industrial development programme – and continuous exploration activity is the only way of doing it. 22

Countries TT energy profile Crude oil production (average b/d) 1970 39,855 1971 129,041 1972 140,273 1973 166,301 1974 186,575 1975 215,342 1976 212,876 1977 229,041 1978 229,589 1979 214,246 1980 212,057 1981 189,335 1982 177,038 1983 159,845 1984 169,513 1985 176,052 1987 155,180 1988 150,829 1989 134,051 1990 151,194 1991 145,395 1992 137,057 1993 124,604 1994 131,532 1995 130,574 1996 129,011 1997 123,881 1998 122,794 1999 125,332 2000 119,432 2001 113,959 2002 130,906 2003 134,865 2004 123,902 2005 144,339 2006 144,266 2007 121,754 2008 114,634 2009 107,169 2010 98,246 2011 91,919 2012 81,735 ENERGY SECTOR Share of GDP 45.2% (2011) of which Exploration and production 19.2% Refining (inc. LNG) 7.6% Petrochemicals 12.7% Others (energy services, etc) 5.7% Share of government revenue 57.5% (2011) of which Oil/gas exploration and production 47.5% Other taxes (royalties, oil impost, &c) 10.0% Share of merchandise exports receipts 85.4% (2009) of which Extracted (crude oil) 12.9% Refined (inc. LNG, natural gas liquids) 62.9% Processed (inc. petrochemicals) 9.6% Share of total employment 3% (2011) Share of bank credit (2010) Loans and advances TT$1.4 billion Percentage of total 3.1% ENERGY RESERVES Oil (2007) Proven Probable Possible Natural gas (2011) Proven Probable Possible Unrisked exploratory resources 317.9 million barrels 119.3 million barrels 1,046 million barrels (inc. tar sands) 13.2 trillion cubic feet (tcf) 6.0 tcf 6.1 tcf 30.4 tcf Production (2010) Crude oil/condensate 35.8 million barrels Crude oil imports 24.9 million barrels Refinery throughput 46.1 million barrels Refinery output 44.0 million barrels Capacity utilisation 77% (capacity 165,000 b/d) Natural gas production 4.3 billion cubic feet daily (bn cfd) Natural gas sales 4.0 bn cfd of which petrochemicals 1.1 bn cfd Electricity generation 293 million cubic feet daily (mmcfd) LNG 2.3 bn cfd Natural gas liquids production 17.2 million barrels (mm b) Exports 16.9 mm b Ammonia production 6.2 million tonnes (mm t) Exports 5.9 mm t Methanol production 5.9 mm t Exports 5.9 mm t Sources: Central Bank Annual Economic Survey (2011), MEEA Draft Green Paper on energy policy (unpublished), ENERGY Caribbean archives energycaribbean YEARBOOK 2013/14 23

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