Trinidad and Tobago (T&T) is a small but influential energy producing country. Natural gas production currently stands at 3.6 Bcf per day and oil production at a low of 66,000bopd. Investment in the industry which had reached a low has picked up as upstream companies have committed to spend up to US$10Bn over the next five (5) years.
In 2019, the upstream companies plan to drill fourteen (14) exploration wells compared with five (5) exploration wells in 2018. Shell proposes to drill one (1) well in Block 5d, BPTT one (1) each in Jasmine, Ginger and Coconut development areas, EOG two (2) wells in the Mentos and BHP, two (2) wells in Block 23 (a) and one (1) well in TTDAA14, with the other explorations well being drilled by Touchstone and some of the Lease Operators and Farm-outs. An estimated sixty-six (66) development wells are projected for 2019 with approximately two-thirds being undertaken by Trinity, Lease Operators, Farm-outs and Incremental Production Sharing Contracts. The impact of the planned development activity will result in increased oil and gas production.