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Our Assets – Overview

Overview Map

Trinity Exploration & Production Plc. (Trinity) operates three (3) licences and six (6) sub-licences in Trinidad with assets onshore and offshore the East and West Coasts.

Trinity holds 100% operated working interest across all onshore assets by way of six (6) Lease Operatorship Agreements (LOAs) and the Tabaquite Farmout Agreement within the Southern Basin and Central Range and currently operates over 170 producing wells onshore from a wider well stock of 1,299.

East and West Coast assets are operated under licence agreements with the Ministry of Energy and Energy Industries, within the Columbus Basin and Gulf of Paria. The 2020 management estimated year end 2P reserves and 2C resources totalled 50.6 MMbbls (updated following conversion of Galeota Licence to a 100% WI) with average production across all assets of averaging 3,032 bopd (H1 2021).

Why Trinidad & Tobago?

Stable environment:

Credit rating: Moody’s: Ba1/ S&P:BBB+

Heritage and Stabilisation Fund (HSF): US$ 5.9bn1

Gross Domestic Product (GDP): US$21.9 bn2

GDP per capita: US$ 16,0412

Westminster Style Parliament / English Law

Highly educated & Skilled Workforce

Production:

> 100 years of hydrocarbon production

8th largest exporter of liquefied natural gas (LNG) in the world3

Mature infrastructure for oil and gas operations

Reforming regime to encourage maximising recovery

Players:

Majors in Trinidad include Repsol, Shell, BP, BHP, ENI and Chevron

Independents include privates such as Perenco and listed operators such as
EOG, Range, Touchstone and Columbus

Sophisticated local and international oilfield supply chain (e.g. Schlumberger, Halliburton, Tucker Energy, Baker Hughes, Wood Group, Worsley Parsons etc).

Fiscal Terms:

Petroleum Profits Tax (PPT) – 50% of chargeable profits

Supplemental Petroleum Tax (SPT) – Onshore: 18% / Offshore: 26.4%* of net revenues for realised prices above US$ 50.0/bbl (under watch for reform)

Sources:
1. Heritage and Stabilisation Fund: HSF Quarterly Report Dec 2017,
2. GDP/ GDP per capita (2016): World Bank Data Centre,
3. LNG exporting countries: www.statista.com
Notes:
*Net of sustainability incentives (20%)