In 2015 it is clear that the Caribbean energy balance is beginning to change, creating new challenges and opportunities for regional governments. A number of things are happening simultaneously. Most Caribbean countries are heavily dependent on oil imports and have accumulated high levels of debt. For them, the sharp fall in oil prices since late 2014 is creating...
In more than a century of exploration and production (E&P), Trinidad and Tobago’s oil and gas has come from both onshore and offshore shallow water wells. Now, there are new frontiers to consider: deepwater ( usually defined as depths of at least 1000 metres) and ultra deepwater (3000 metres or more). In the past decade exploration has begun to focus on potential in...
Over the last two decades Trinidad and Tobago’s natural gas boom has overshadowed crude oil output, which has been slowly declining. Gas production is now leading the race. In terms of energy equivalency, for every unit of oil currently produced there are eight units of gas extracted. However, the government and a number of independent oil companies are confident that...
In January 2015 Clare Short, a former UK minister and current chair of the Extractive Industries Transparency Initiative (EITI), a global lobby group, announced in Port of Spain that Trinidad and Tobago had become fully compliant with all of the group’s reporting requirements. It was a significant moment for T&T’s oil and gas sector, and for its attempts to achieve...
Gas production and processing has grown in importance in recent years and is now undisputedly at the centre of Trinidad and Tobago’s economy, accounting for almost 90% of the energy sector. Key upstream gas producers include BP T&T (BPTT), BG Group and EOG Resources Trinidad.
The Caribbean island state of Trinidad and Tobago is no newcomer to the oil and gas business. It has been producing hydrocarbons for more than a century, with commercial production of crude oil dating back to 1908. Although a small country, and comparatively speaking a small producer, its long and rich experience in the industry has helped the country punch above its...
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