Trinidad and Tobago Oil and Gas Report Q4 2016

Publisher Name :
Date: 31-Aug-2016
No. of pages: 85

BMI View: Shortages of natural gas are expected to persist at least until the start of the Juniper field in late

2017. 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 2016, investment has already been delayed due to the

current market conditions, underscoring the impact of lower commodity prices.

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 339bcm 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 5bn bbl of oil in place. On August

11, the company announced it has plugged the LeClerc 1 ST01 deepwater well located some 217km

offshore after it encountered natural gas in multiple zones but failed to discover oil. The exploration plan

will test several additional deposits over the next three years, focusing on the discovery of commercial

oil.

Trinidad and Tobago Oil and Gas Report Q4 2016

Table of Contents

BMI Industry View 7
Table: Headline Forecasts (Trinidad & Tobago 2014-2020) 7
SWOT 9
Oil & Gas SWOT 9
Industry Forecast 11
Upstream Exploration 11
Latest Updates 11
Structural Trends 11
Upstream Projects 14
Table: Trinidad & Tobago Major Upstream Projects 14
Upstream Production - Oil 16
Latest Updates 16
Structural Trends 16
Table: Oil Production (Trinidad & Tobago 2014-2019) 18
Table: Oil Production (Trinidad & Tobago 2020-2025) 18
Upstream Production - Gas 19
Latest Updates 19
Structural Trends 19
Table: Gas Production (Trinidad & Tobago 2014-2019) 21
Table: Gas Production (Trinidad & Tobago 2020-2025) 21
Refining 22
Latest Updates 22
Structural Trends 22
Table: Refining Capacity and Refined Products Production (Trinidad & Tobago 2014-2019) 24
Table: Refining Capacity and Refined Products Production (Trinidad & Tobago 2020-2025) 24
Refined Fuels Consumption 25
Latest Updates 25
Structural Trends 25
Table: Refined Products Consumption (Trinidad & Tobago 2014-2019) 27
Table: Refined Products Consumption (Trinidad & Tobago 2020-2025) 27
Gas Consumption 28
Latest Updates 28
Structural Trends 28
Table: Gas Consumption (Trinidad & Tobago 2014-2019) 30
Table: Gas Consumption (Trinidad & Tobago 2020-2025) 30
Trade - Oil 31
Latest Updates 31
Crude Oil: Structural Trends 31
Table: Crude Oil Net Exports (Trinidad & Tobago 2014-2020) 32
Table: Crude Oil Net Exports (Trinidad & Tobago 2020-2025) 33
Refined Products: Structural Trends 33
Table: Refined Fuels Net Exports (Trinidad & Tobago 2014-2019) 34
Table: Refined Fuels Net Exports (Trinidad & Tobago 2020-2025) 35
Trade - Gas (Pipeline and LNG) 36
Latest Updates 36
Structural Trends 36
Table: Gas Net Exports (Trinidad & Tobago 2014-2019) 39
Table: Gas Net Exports (Trinidad & Tobago 2020-2025) 40
Industry Risk/Reward Index 41
Latin America - Oil & Gas Risk/Reward Index 41
Table: Latin America - Composite Risk/Reward Index 41
Composite RRI: Continued Adjustments Level Off Rankings 42
Upstream RRI: Steady Scores Mask Forthcoming Shifts 43
Table: Latin America - Upstream Risk/Reward Index 44
Downstream: NOC Dominance Will Reinforce Fuels Deficit 46
Table: Latin America Downstream Risk/Reward Index 48
Trinidad & Tobago - Risk/Reward Index 49
Upstream Index 49
Downstream Index 50
Market Overview 51
Trinidad & Tobago Energy Market Overview 51
Regulatory Structure 51
Fiscal Regime 52
Table: Trinidad and Tobago - Upstream Tax Regime 52
Table: Trinidad & Tobago - Contracts & Licensing Regime 52
Licensing Rounds 52
Oil And Gas Infrastructure 56
Oil Refineries 56
Table: Oil Refineries in Trinidad & Tobago 56
Oil Storage Facilities 56
Oil Terminals/Ports 56
Table: Trinidad & Tobago - Oil Terminals & Ports 56
LNG Terminals 56
Table: Trinidad & Tobago - Existing and Planned LNG Terminals 57
Gas Storage 57
Table: Trinidad and Tobago - Gas Storage Facilities 57
Table: Trinidad and Tobago -Natural Gas Pipelines 57
Table: Trinidad and Tobago - Crude Oil Pipelines 57
Competitive Landscape 58
Competitive Landscape Summary 58
Table: Key Domestic And Foreign Players 59
Table: Key Upstream Players 60
Table: Key Downstream Players 60
Company Profile 61
Petroleum Company Of T&T (Petrotrin) 61
Table: Table: Major Upstream Assets In T&T 62
Table: Key Financial Data, USDmn 62
BP Energy Company of Trinidad & Tobago (BPTT) 63
Table: Major Upstream Assets In T&T 64
Table: Key Financial Data, USDmn 64
Regional Overview 65
Latin America Overview 65
Table: Latin America Oil and Gas Production, Refining Capacity and Trade, 2014-2025 76
Glossary 78
Table: Glossary Of Terms 78
Methodology 80
Industry Forecast Methodology 80
Source 82
Risk/Reward Index Methodology 82
Table: Bmi's Oil & Gas Upstream Risk/Reward Index 84
Table: Weighting 85

List of Tables

Table: Headline Forecasts (Trinidad & Tobago 2014-2020)
Table: Trinidad & Tobago Major Upstream Projects
Table: Oil Production (Trinidad & Tobago 2014-2019)
Table: Oil Production (Trinidad & Tobago 2020-2025)
Table: Gas Production (Trinidad & Tobago 2014-2019)
Table: Gas Production (Trinidad & Tobago 2020-2025)
Table: Refining Capacity and Refined Products Production (Trinidad & Tobago 2014-2019)
Table: Refining Capacity and Refined Products Production (Trinidad & Tobago 2020-2025)
Table: Refined Products Consumption (Trinidad & Tobago 2014-2019)
Table: Refined Products Consumption (Trinidad & Tobago 2020-2025)
Table: Gas Consumption (Trinidad & Tobago 2014-2019)
Table: Gas Consumption (Trinidad & Tobago 2020-2025)
Table: Crude Oil Net Exports (Trinidad & Tobago 2014-2020)
Table: Crude Oil Net Exports (Trinidad & Tobago 2020-2025)
Table: Refined Fuels Net Exports (Trinidad & Tobago 2014-2019)
Table: Refined Fuels Net Exports (Trinidad & Tobago 2020-2025)
Table: Gas Net Exports (Trinidad & Tobago 2014-2019)
Table: Gas Net Exports (Trinidad & Tobago 2020-2025)
Table: Latin America - Composite Risk/Reward Index
Table: Latin America - Upstream Risk/Reward Index
Table: Latin America Downstream Risk/Reward Index
Table: Trinidad and Tobago - Upstream Tax Regime
Table: Trinidad & Tobago - Contracts & Licensing Regime
Table: Oil Refineries in Trinidad & Tobago
Table: Trinidad & Tobago - Oil Terminals & Ports
Table: Trinidad & Tobago - Existing and Planned LNG Terminals
Table: Trinidad and Tobago - Gas Storage Facilities
Table: Trinidad and Tobago -Natural Gas Pipelines
Table: Trinidad and Tobago - Crude Oil Pipelines
Table: Key Domestic And Foreign Players
Table: Key Upstream Players
Table: Key Downstream Players
Table: Table: Major Upstream Assets In T&T
Table: Key Financial Data, USDmn
Table: Major Upstream Assets In T&T
Table: Key Financial Data, USDmn
Table: Latin America Oil and Gas Production, Refining Capacity and Trade, 2014-2025
Table: Glossary Of Terms
Table: Bmi's Oil & Gas Upstream Risk/Reward Index
Table: Weighting
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