It is my pleasure to announce the drilling by BHP of the Broadside Well in the East Coast Deep Water Block TTDAA 3. On completion Broadside will be the deepest well drilled in Trinidad and Tobago. I wish to applaud BHP and all personnel associated with the project who despite set backs such as covid have ensured the drilling of the well continues apace.

Trinidad and Tobago’s upstream sector has been largely spared from disruption to its activities by the effects of the covid pandemic. Oil and gas production have been maintained at levels required to meet demand, and planned investment as in the case of Broadside well is on stream. The outlook for the sector in terms of productive capacity is positive. Both oil and gas production are set to increase progressively in the near term. By 2022 gas production is projected to stabilize at 3.8 bcf per day and oil production is projected to peak at approximately 80,000 barrels per day