Trinidad and Tobago Oil and Gas Report - Business Monitor International - Industry Reports

Trinidad and Tobago Oil and Gas Report

Trinidad and Tobago Oil and Gas Report - Business Monitor International - Industry Reports
Trinidad and Tobago Oil and Gas Report
Published Aug 27, 2016
85 pages — Published Aug 27, 2016
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The main trends and developments in the Trinidad & Tobago (T&T) oil and gas sector are: T&T disclosed plans to finance a new pipeline that would carry gas from Venezuela s Dragon field, which could contain up to ---bcm of gas. The project would deliver sorely needed new supplies that could help to ease persistent shortages of gas. However the project has not yet been included in our forecasts, given uncertainty over the political and economic situation in Venezuela. BHP Billiton commenced its offshore drilling campaign alongside its partner Royal Dutch Shell in May, targeting a major deepwater prospect that was believed to have at least -bn bbl of oil in place. On August --, the company announced it has plugged the LeClerc - ST-- deepwater well located some ---km offshore after it encountered natural gas in multiple zones but failed to discover oil. ...An increase in gas production beginning next year will support a rebound in economic growth within the country. That said, growth over the coming years will remain constrained, averaging -.- growth

...Improved fiscal terms and other incentives have increased interest in upstream investment by international oil companies (IOCs), providing upside risk to the outlook for reserves. Notwithstanding positive development in recent quarters, the decline in global oil prices will weigh on the outlook for the sector. ...Amid pressure to cut capital expenditure in response to a weaker industry finances, upstream investment in T&T could be delayed or reduced. Fiscal revisions were reportedly to be considered ahead of a bidding round that was said to be planned for early ----, however given the absence of firm details and taking into account the current market conditions, the prospects for a further licensing appear increasingly remote. However the easiest to recover reserves have already been exploited and remaining resources are likely to be more complex and require greater investment to recover. Energy Minister Nicole Olivierre warned in early ---- that companies need to ensure they carried out agreed-upon work programmes or risk having acreage reclaimed by the government, which is seeking to

...BMI View: Shortages of natural gas are expected to persist at least until the start of the Juniper field in late ----. These supply challenges will continue to disrupt gas exports and comes amid government concerns over the profitability of liquefied natural gas exports. The government has also called for operators to fully exploit existing acreage, suggesting the emergence of tensions between officials and upstream players. While a series of major wells is being planned in ----, investment has already been delayed due to the current market conditions, underscoring the impact of lower commodity prices. Table: Headline Forecasts (Trinidad & Tobago ---------) ----e ----e ----f ----f ----f ----f ----f Crude, NGPL & other liquids prod, ---b/d ---.- ---.- ---.- ---.- ---.- ---.- ---.- Refined products production, ---b/d ---.- ---.- ---.- ---.- ---.- ---.- ---.- Refined products consumption & ethanol, ---b/d --.- --.- --.- --.- --.- --.- --.- Dry natural gas production, bcm --.- --.- --.- --.- --.- --.- --.- ...

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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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Business Monitor International - Industry Reports. "Trinidad and Tobago Oil and Gas Report" Aug 27, 2016. Alacra Store. Oct 25, 2016. <>
Business Monitor International - Industry Reports. (2016). Trinidad and Tobago Oil and Gas Report Aug 27, 2016. New York, NY: Alacra Store. Retrieved Oct 25, 2016 from <>
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