Our Assets – Overview
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 1,165.
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 2017 management estimated year end 2P reserves and 2C resources totalled 47.2 MMbbls with average production across all assets was of 2,519 bopd for the full year 2017 (with H1 2018 average production of 2,771 bopd).
Solid Production Growth with Established Growth Trajectory
- 180 active wells (1,086 total) producing from multiple reservoirs
- Various production methodologies (ESP, Sucker rod, PCP, swabbing, etc.)
2017 work programme:
- 97 workovers (WOs) & reactivations
- 37 recompletions (RCPs)
- Onshore swabbing
- No new wells
H1 2018 production averaged 2,771 bopd (2017 average: 2,397 bopd).
Two (2) wells drilled in Q1 2018 (ends 4-year onshore drilling hiatus) and producing in Q2. A new six (6) well onshore drilling campaign commenced in August 2018.
Workovers and recompletions continuing business as usual.
Why Trinidad & Tobago?
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
> 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
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).
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)
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
*Net of sustainability incentives (20%)