Trinidad and Tobago Oil and Gas Report Q3 2012
Published : July 2012 No.
of Pages : 81 Price:US$1175
Times are tough for Trinidad & Tobago’s oil and gas industry, with 2011 oil output having slumped, and
US demand for the country’s gas exports on the...
More
Trinidad and Tobago Oil and Gas Report Q3 2012
Published : July 2012 No.
of Pages : 81 Price:US$1175
Times are tough for Trinidad & Tobago’s oil and gas industry, with 2011 oil output having slumped, and
US demand for the country’s gas exports on the slide.
The government expects an upturn in 2012 drilling
activity and, with several new smaller international oil companies (IOCs) now involved as well as a 2012
deepwater bidding round, there is scope to slow the rate of decline in oil production.
The main trends and developments we highlight in the Trinidad & Tobago (T&T) Oil and Gas sector are:
1.
Upstream companies operating in T&T will invest US$3bn in oil and gas exploration activities over
2012, Energy Minister Kevin Ramnarine said in February 2012.
Some 15 exploration wells will be drilled,
mainly by Canada-based companies Parex Resources and Niko Resources and by BP, he said.
Five
drilling rigs are currently operating in the country, with six seismic programmes continuing or
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