Exploration Opportunities 2009-2010 AAPG ICE 2009, Rio de Janeiro Exploration Opportunities 2009-2010 Ministry of Energy and Energy Industries Government of the Republic of Trinidad and Tobago

Regional Setting

Government’s Focus Increase oil and gas reserves Increase oil and gas production Enabling greater participation of nationals and national enterprises Sustainable energy development

Hydrocarbon Production in Trinidad and Tobago ALNG IV (MBOED) ALNG III Projected ALNG II ALNG I Gas Production started to exceed oil production in mid 1960s. Need to redress the imbalance while still prospecting for gas to meet current and new demand Pt. Lisas Construction Begins Natural Gas used to produce Power and Ammonia First Oil Refinery Established

Production statistics 2017 Projected with Train X GAS PROCESSING 1% METHANOL MANUFACTURE 10% REFINERY AMMONIA AND UREA MANUFACTURE SMALL CONSUMERS Down Stream Ammonia 4% New Metals and Plastics 7% Down Stream Methanol 4% LNG 'Train X' 13% Atlantic (LNG) 39% POWER GENERATION 7% Total 6042 MMscfd Train X is still considered a viable option but there has to be considerable quantities of new gas discovered to move forward with this project.

Current & Future Opportunities Speak to the water depth

Hydrocarbon Plays NCMA Central Range Gulf of Paria - Northern Basin Soldado - Southern Basin Columbus Basin

Shallow water opportunities (NCMA)

Shallow water opportunities (NCMA) Proven trap styles 1968, 1977, 1980 and 2009 2D seismic data Recent biogenic gas discoveries (2007) in adjacent block Water depth range 30-150m

Shallow water opportunities (ECMA)

Shallow water opportunities (North Marine) Prospective for both oil and gas Gas field Oil field

Gas Prospectivity

Heavy oil opportunities

Bid Round Information Licensing round for Shallow water opportunities due to open end November The Ministerial Order is currently being drafted All material related to the round will be published on the web page. Need to update our address books to keep in touch with individual companies, so ask for their cards.

Trinidad and Tobago Deep Atlantic

“Ultra deep-water” exploration Trinidad Deep Atlantic Seismic Programme 2002

“Ultra deep-water” exploration Barbados Oil –prone domain (Dynamic Global Advisors, Houston) Barbados Exploration (Sandy Lane well) Piston cores

Deep Water G&G Basin Studies

Shallow and Average Water Depth Revised Fiscal Terms to Encourage Exploration Shallow and Average Water Depth Different terms for shallow, average and deep water exploration Government share is calculated on a matrix Consideration given to marginal fields and tail-end production Low prices and low production reduced or no government share Carried participation of 20% in Shallow No carried participation in average

Revised Fiscal Terms to Encourage Exploration Deep Water The stakeholder consultations elicited some fundamental comments on the deep water fiscal regime These are currently being addressed Very likely that there will be a change to the proposal originally presented.

Competitive Bidding Order Process Consultation Approval Acceptance Publication

Conclusion Numerous shallow and deep water investment opportunities Potential for oil, natural gas, condensate, heavy oil New fiscal incentives to encourage exploration Expansive downstream natural gas industries

Thank you for your attention Please visit us at Booth 908 of the International Pavilion to answer any questions Website - www.energy.gov.tt Email - bidround@energy.gov.tt