Overview

The island nation of Trinidad and Tobago has a long history of oil and gas production, with the first well being drilled in 1857. It is the world’s sixth-largest exporter of LNG, boasting a four-train LNG plant at Point Fortin with one of the largest liquefaction trains in the world.

Gas production slipped in 2011 after strong growth over the past decade. Revenue derived from exporting oil and gas is vital to the economy and the government is keen to sustain production levels. The financial crisis and economic recession has discouraged investment. With a return to growth in 2012, the government expects greater investment in the oil and gas industry.

Gas production in Trinidad is dominated by BP, BG Group and EOG Resources. BP announced a discovery of 1 billion cubic feet (28.32 million cubic metres) at its Savonette field in late 2012. BG is developing the Victory, Bounty and Endeavour fields for production. The country has an established infrastructure and stable regulatory and fiscal regime making it an attractive prospect.

Page updated: 14/01/2013