The twin island state of Trinidad & Tobago has earned a reputation as an excellent country for international businesses and has one of the highest growth rates and per capita incomes in Latin America.
English is the official language and the Country is governed by a parliamentary democracy. The Country’s economy is heavily reliant upon the energy sector which contributes 45% of GDP and 83% of exports.
Trinidad & Tobago has a long history of oil production and more recently has established itself as a significant exporter of natural gas from its offshore fields. The Country has significant energy infrastructure and is the largest producer and exporter of methanol and ammonia in the world. There are four LNG trains (14.8 million MTPA), four iron and steel mills, six power plants, eleven ammonia plants and one urea plant, together with a crude oil refinery (160,000 bbls per day throughput refinery capacity; the bulk of the feedstock is imported to supplement indigenous crude). The workforce is highly trained and experienced, and has a long history in the energy sector. The oilfield services industry is well developed and the country has its own platform fabrication yard.
The combination of a world-class petroleum system, competitive fiscal terms and a well-established legal and regulatory framework for hydrocarbon exploration and production makes the country an excellent place for conducting upstream business. A number of large international E&P companies have invested in Trinidad in recent years including BP, BG, BHP, Centrica, EOG, Niko Resources, Repsol and Sinopec.
For more information about Trinidad & Tobago’s energy industry, please visit the following sites: