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Oil Production (2024): Trinidad and Tobago produced approximately 50,000 barrels of oil per day (bpd) from offshore fields in 2024, a decline from 80,000 bpd in 2015. In 2019, offshore oil fields alone produced 40,131 bpd, down 5.65% from 42,540 bpd in the prior year.
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Recent Developments: In April 2024, Heritage Petroleum Company commissioned a new offshore well (S-938) with an expected output of 500 bpd, contributing to efforts to boost production. Posts on X suggest potential to increase oil production by 100,000 bpd, though this is speculative and not yet realized.
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Cumulative Production: Over its history, Trinidad and Tobago has produced over 3 billion barrels of oil, primarily from offshore and shallow-water fields.
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Gas Production (2024): Trinidad and Tobago produced approximately 2.51 billion cubic feet per day (bcfd) of natural gas, down from 3.3 bcfd over the last five years and 3.702 bcfd in 2015. In 2023, output increased by 13% compared to 2022, reaching 0.91% of global production (17th largest producer globally).
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2025 Forecast: Production is projected to reach 3.2 bcfd in 2025, assuming no new projects come online. Planned projects like Colibri and Matapal (operated by Shell and BP, respectively) are expected to contribute 820 million cubic feet per day (MMcf/d), with 514 MMcf/d from planned projects and 306 MMcf/d from early-stage announced projects. These fields could account for 58% of the country’s gas production in 2025.
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Production Trends: Gas production is expected to grow at a 2% CAGR from 2024 to 2028 but may decline by 3% after 2024 without new investments, particularly in deepwater exploration.
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Offshore Dominance: Most of Trinidad and Tobago’s oil and gas production comes from offshore fields, with significant activity in shallow and deepwater blocks. The country launched a 2025 Deep Water Competitive Bidding Round offering 26 offshore blocks to boost exploration and production, with bids due by July 2, 2025.
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Major Operators: BP, Shell, Repsol, EOG Resources, BHP, and Perenco are key players, with BP’s Cypre project (set for first gas in 2025) and Shell’s Colibri and Matapal fields driving growth.
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Economic Impact: The oil and gas sector accounts for 57% of government revenue (2022) and 34.9% of GDP, with natural gas dominating due to the shift from oil in the 1990s. Trinidad and Tobago is the seventh-largest LNG exporter globally, with 17 billion cubic meters exported in 2019 (24.9% to the U.S.).
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Challenges: Production has declined due to maturing fields and limited new investments. Deepwater exploration is seen as critical to reversing this trend, but delays in bidding rounds (e.g., 2020 round postponed to 2021) and regional competition from Guyana pose risks.
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Data Sources: Figures are drawn from industry reports (GlobalData, Mordor Intelligence, EIA) and government sources (Ministry of Energy and Energy Industries). X posts provide sentiment but are not conclusive.
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Units: Oil is reported in barrels per day (bpd), and gas in billion cubic feet per day (bcfd) or million cubic feet per day (MMcf/d).
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Future Outlook: New discoveries (e.g., BP’s Savannah and Macadamia wells with 2 trillion cubic feet of gas) and projects like Cypre and Calypso could stabilize or increase production, but deepwater investments are crucial.ENB Pub Note: How much oil and gas is being produced off Trinidad and Tobago?
Subsea Integration Alliance members, Subsea 7 and SLB’s OneSubsea, have been awarded an engineering, procurement, construction, and installation contract for the Ginger project offshore Trinidad and Tobago by supermajor BP.
The work on the project will be done under the new global framework agreement between BP and the Subsea Integration Alliance partners. The framework defines a novel commercial model that effectively aligns incentives for accelerated and maximised value creation among all stakeholders involved, throughout the life of joint projects.
For the Ginger EPCI project, Subsea7 will supply a diver-installed tie-in system, a flexible production flowline, and associated infrastructure.
OneSubsea will deliver four standardised vertical monobore subsea trees and tubing hangers, optimised for speed of delivery and installation. It will also deliver the first high-integrity pressure protection system manifold in the region.
BP’s Ginger gas development is located off the southeast coast of the island of Trinidad, at water depths of up to 90 m. Project management and engineering activities will begin immediately at Subsea7’s office in Houston, Texas, with offshore operations scheduled for 2026.
Financial details have not been fully disclosed. However, it has been described as a sizeable deal, placing it in the $150m to $300m range.
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