Country Report
Trinidad And Tobago upstream summary
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
A top gas-producer in Latin America - Trinidad and Tobago is one of the highest gas-producing countries in the region. Gas reserves are mostly located offshore, however, gas production decline is observed since 2018. The country has also seen a drastic decline in liquids production going from approx. 130,000 barrels a day in 2004 to 60,000 barrels a day in 2024. There is, however, some potential heavy oil upside at Petrotrin's offshore fields southwest of Trinidad. Although onshore ...
Table of contents
- Executive summary
- Key facts
- Location maps
- Key companies
-
Geology
- Introduction
- West Tobago basin
- Caroni sub-basin
- Central Range uplift
- Southern sub-basin
- Columbus sub-basin
- Atlantic basin
-
Exploration
- Licensing
-
Historical overview
- 1989 licensing round
- 1995 licensing round (Phase One)
- 1995 licensing round (Phase Two)
- 1996 licensing round (Phase Three - deepwater)
- 1999 licensing round
- 2003 offshore licensing round
- 2005 licensing round
- 2006 ultra-deepwater licensing round
- 9 more item(s)...
-
Drilling
- Drilling activity
- Columbus sub-basin
- Central Range uplift
-
Southern sub-basin
- Success rates
-
Reserves and resources
- Liquids
- Gas
-
Production
- Liquids
-
Gas
- Domestic demand
- Liquefied natural gas (LNG)
-
Infrastructure
-
Oil infrastructure
- Pipelines
- Refineries
-
Gas infrastructure
- Pipelines
-
Oil infrastructure
-
Policy and regulation
- Key legislation
- Regulatory body
-
State oil company
- Historical perspective
- Petrotrin
- National Gas Company
- State participation
- Licensing
-
Historical perspective
- Concession agreements
-
Current regime
- 1993 production sharing contract (Block E/Dolphin)
- 1994 model production sharing contract
- 1995 model production sharing contract
- 1996 model production sharing contract (deepwater areas)
- 2001 model production sharing contract
- 2003 model production sharing contract
- 2006 model production sharing contract
- 2010 production sharing contracts
- 2 more item(s)...
-
Gas prices
- Historical gas prices (domestic)
- Current gas prices (domestic)
- Gas prices (LNG)
-
Fiscal terms
- Overview
- Upstream
-
Mid/Downstream
- Pipelines
- Gas utilisation
- Current fiscal terms
-
Production sharing contract (PSC)
- Basis
- Government equity participation
- Fiscal terms
- Bonuses, rentals and fees
- Royalty
- PSC production sharing
- PSC cost recovery
- PSC profit sharing
- 7 more item(s)...
-
Concession
- Basis
- Government equity participation
- Fiscal terms
- Royalty
- Petroleum production levy
- Petroleum impost
- Additional petroleum tax (supplemental petroleum tax)
- Investment tax credit
-
Historical background
- Production sharing contracts
- Bonuses, rentals and fees
- PSC cost recovery
- PSC profit sharing
- PPT and other taxes
- Concession
- 2 more item(s)...
Tables and charts
This report includes the following images and tables:
- Key facts: Table 1
- Country Map
- Liquids and Gas Production 2025
- Reserves and contingent resources at 01/01/2025
- Net Acreage 2025
- Map of Trinidad and Tobago's basins
- Exploration Drilling
- Reserves and resources: Table 1
- Liquids and Gas Production and Reserves
- Production: Table 1
- Production: Table 2
- Exploration: Table 1
- 43 more item(s)...
What's included
This report contains:
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