PORT OF SPAIN, Trinidad, CMC – The Vitality Chamber of Trinidad and Tobago says 95 p.c of the nation’s pure fuel final yr had been produced by 4 main firms.
It acknowledged that the 4 main producers, particularly bpTT, Shell, EOG Sources, and Woodside, have been capable of produce the fuel from offshore fields predominantly situated off the east coast of Trinidad and the north coast of Trinidad and Tobago.
In keeping with the Vitality Chamber, in 2024, BPTT retained its long-held place as the most important producer of pure fuel in Trinidad and Tobago, accounting for 46 p.c of the pure fuel produced.
“bpTT is majority owned by the British main worldwide vitality firm, bp, however with a major minority shareholding from the Spanish worldwide vitality firm, Repsol. bpTT produced pure fuel at a mean price of 1,174 million customary cubic ft per day (mmscf/d) over the yr, or roughly 208 thousand barrels of oil equal per day (boe/d).”
The Vitality Chamber acknowledged that one other UK-listed firm, Shell, was the second-largest producer, with 23 p.c at a price of 586 mmscf/d, adopted by US-headquartered EOG Sources and the Australian firm Woodside, which accounted for 14 and 12 p.c of nationwide manufacturing, respectively.
The Vitality Chamber famous that it must be acknowledged that some producing blocks have non-operator fairness companions, together with the Nationwide Gasoline Firm (NGC) and Heritage Petroleum. Nevertheless, the Ministry of Vitality’s knowledge experiences manufacturing by the working firm relatively than by the shareholders within the blocks.
The Trinidad and Tobago-based DeNovo is the one producer of pure fuel from the west coast, accounting for one p.c of nationwide manufacturing. DeNovo is a part of the Proman group, the largest petrochemical producer in Level Lisas.
The state firm, Heritage Petroleum, is the nation’s largest crude oil producer. Nonetheless, it solely immediately produces roughly one p.c of the nation’s pure fuel, with 14 million cubic ft per day (mmscf/d) produced offshore and a couple of mmscf/d produced onshore.
The opposite firm that produces pure fuel onshore is Touchstone Exploration, which is collectively listed in Canada and the UK however operates solely in Trinidad. Touchstone produced about 33 mmscf/d final yr however is within the course of of buying one other onshore gas-producing subject (Central Block) from Shell.
The Vitality Chamber acknowledged that Perenco, a fuel producer, is an Anglo-French mature subject specialist firm. Perenco was primarily an oil producer in Trinidad, however in 2024, its fuel manufacturing grew because it took over possession and administration of some mature BPTT fields.
They ended the yr with a mean of two p.c of whole fuel manufacturing. That is anticipated to considerably enhance in 2025, as they assume possession and administration of the Woodside Angostura facility whereas additionally searching for to spice up output from the fields they’ve beforehand acquired.
By the top of 2025, Perenco is prone to be part of EOG, Shell, and bpTT as the key Trinidad and Tobago fuel producers, the Vitality Chamber added.
