New gas discoveries and increased sanctioning activity is expected to break the downward production trend in Trinidad, according to Rystad Energy.
Last month on 2 June 2017, BP Trinidad & Tobago (BPTT) announced two new gas discoveries offshore Trinidad - Savannah and Macadamia - together amounting to around 1.3 Tcg of recoverable resources, based on Rystad Energy analyses. In addition, the Angelin project discovered back in 1995 was announced as sanctioned.
Rystad says that the recent activity will have a positive impact for a country that is currently facing challenges related to securing enough gas to Trinidad’s significant gas industry. While the gas production in Trinidad has seen a downward trend since 2012, Rystad Energy’s latest data now shows an expected production increase in 2019.
“Continued focus on exploration in general, but in particular near infrastructure exploration (ILX), and fast track developments is still a necessity. Rystad Energy sees that Shell is also taking steps to enforce their position in Trinidad, while BHP has exploration in Trinidad as one of their most important issues going forward. We expect to receive more good news from Trinidad in the years to come,” says Kjetil Solbraekke, senior VP South America at Rystad Energy.
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