Table of Contents
1 Table of Contents 2
1.1 List of Tables 8
1.2 List of Figures 10
2 Trinidad and Tobago Energy Sector 11
2.1 Trinidad and Tobago Energy
Sector, Market Overview 11
2.2 Trinidad and Tobago Energy Sector, Natural
Gas 12
2.2.1 Trinidad and Tobago Natural Gas, Overview 12
2.2.2
Trinidad and Tobago Natural Gas, Supply and Demand Balance 12
2.2.3
Trinidad and Tobago Natural Gas, Regulatory Structure 18
2.2.4 Trinidad
and Tobago Natural Gas, Infrastructure 19
3 Trinidad and Tobago Fiscal
Regime 20
3.1 Trinidad and Tobago Petroleum Fiscal Environment 20
3.2
License Terms 21
3.3 Key Fiscal Terms 22
3.4 Sample Cashfolws
Calculations 29
4 Trinidad and Tobago Gas Upstream Investment Environment
Benchmarking 30
4.1 Introduction 30
4.2 The Overall Ranking 30
4.3
Upstream Fiscal Attractiveness 31
4.3.1 Maximum Government Take Index
32
4.3.2 Maximum State Participation Index 32
4.3.3 Domestic Market
Obligation Index 32
4.4 Gas Sector Performance 33
4.4.1 Exploration
Activity 35
4.4.2 Gas Production 36
4.4.3 Gas Reserves 36
4.4.4
Gas Consumption 37
4.5 Economic Performance 37
4.5.1 GDP Growth Index
39
4.5.2 FDI Confidence Index 39
4.5.3 Balance of Trade Index 39
4.6 Socio-Political Performance 39
4.6.1 Democracy Index 41
4.6.2
Governance Index 41
5 Trinidad and Tobago Exploration and Production
Sector 42
5.1 Trinidad and Tobago Exploration and Production Sector,
Country Snapshot 42
5.1.1 Trinidad and Tobago Exploration and Production
Sector, Key Data 42
5.1.2 Trinidad and Tobago Exploration and Production
Sector, Natural Gas Assets Map 42
5.2 Trinidad and Tobago Exploration and
Production Sector, Marketed Natural Gas Production 43
5.2.1 Trinidad and
Tobago Exploration and Production Sector, Marketed Natural Gas-Historical
Production 43
5.2.2 Trinidad and Tobago Exploration and Production Sector,
Marketed Natural Gas Production by Assets 44
5.2.3 Trinidad and Tobago
Exploration and Production Sector, Marketed Equity Weighted Natural Gas
Production by Company 45
5.2.4 Trinidad and Tobago Exploration and
Production Sector, Market Share (%) based on Marketed Natural Gas Production
47
5.3 Trinidad and Tobago Exploration and Production Sector, Marketed
Natural Gas Forecasts 48
5.3.1 Trinidad and Tobago Exploration and
Production Sector, Marketed Natural Gas Forecasted Production 48
5.3.2
Trinidad and Tobago Exploration and Production Sector, Gross Revenue Forecast
48
5.3.3 Trinidad and Tobago Exploration and Production Sector, Government
Take Forecast 49
5.3.4 Trinidad and Tobago Exploration and Production
Sector, Contractor Take Forecast 49
5.4 Trinidad and Tobago Exploration
And Production Sector, Natural Gas Asset Details 50
5.4.1 Trinidad and
Tobago Exploration And Production Sector, Active Natural Gas Asset Details
50
5.4.2 Trinidad and Tobago Exploration And Production Sector, Planned
Natural Gas Asset Details 50
6 Trinidad and Tobago Pipeline Sector 51
6.1 Trinidad and Tobago Pipeline Sector, Key Data 51
6.2 Trinidad and
Tobago Pipeline Sector, An Overview 51
6.3 Trinidad and Tobago Pipeline
Sector, Comparison of Key Natural Gas Pipeline Companies 51
6.4 Trinidad
and Tobago Pipeline Sector, Natural Gas Pipelines 53
7 Trinidad and Tobago
LNG Sector 55
7.1 Trinidad and Tobago LNG Sector, Key Data 55
7.2
Trinidad and Tobago LNG Sector, Liquefaction 55
7.2.1 Trinidad and Tobago
LNG Sector, Liquefaction, Total Liquefaction Capacity 55
7.2.2 Trinidad
and Tobago LNG Gas Sector, Liquefaction, Market Share By Company 56
7.2.3
Trinidad and Tobago LNG Sector, Asset- Wise Liquefaction Capacity 57
8
Profile of BHP Billiton 59
8.1 BHP Billiton, Key Information 59
8.2
BHP Billiton, Company Overview 59
8.3 BHP Billiton, Business Description
59
8.3.1 BHP Billiton, Business Description, Business Overview 59
8.3.2 BHP Billiton, Business Description, Aluminium 60
8.3.3 BHP Billiton,
Business Description, Base Metals 61
8.3.4 BHP Billiton, Business
Description, Diamonds and Specialty Products 62
8.3.5 BHP Billiton,
Business Description, Energy Coal 63
8.3.6 BHP Billiton, Business
Description, Iron Ore 64
8.3.7 BHP Billiton, Business Description,
Manganese 65
8.3.8 BHP Billiton, Business Description, Metallurgical Coal
66
8.3.9 BHP Billiton, Business Description, Petroleum 67
8.3.10 BHP
Billiton, Business Description, Stainless Steel Materials 68
8.3.11 BHP
Billiton, Business Description, Major Products and Services 69
8.4 BHP
Billiton, Value Chain Analysis 71
8.4.1 BHP Billiton, Value Chain
Analysis, Upstream 71
8.4.2 BHP Billiton, Value Chain Analysis, Midstream
72
8.4.3 BHP Billiton, Value Chain Analysis, Retail 73
8.5 BHP
Billiton, SWOT Analysis 74
8.5.1 BHP Billiton, SWOT Analysis, Overview
74
8.5.2 BHP Billiton, SWOT Analysis, Strengths 74
8.5.3 BHP Billiton,
SWOT Analysis, Weaknesses 76
8.5.4 BHP Billiton, SWOT Analysis,
Opportunities 76
8.5.5 BHP Billiton, SWOT Analysis, Threats 77
8.6 BHP
Billiton, Revenue Analysis 79
8.6.1 BHP Billiton, Revenue by Segment
79
8.6.2 BHP Billiton, Revenue by Geography 80
8.7 BHP Billiton,
Financial and Operational Review 82
8.7.1 Financial Statements 82
8.7.2 Financial Ratios 83
9 Profile of BG Group plc 84
9.1 BG Group
plc, Key Information 84
9.2 BG Group plc, Company Overview 84
9.3 BG
Group plc, Business Description 84
9.3.1 BG Group plc, Business
Description, Business Overview 84
9.3.2 BG Group plc, Business
Description, Exploration and Production 84
9.3.3 BG Group plc, Business
Description, Liquefied Natural Gas 87
9.3.4 BG Group plc, Business
Description, Power and Other activities 88
9.3.5 BG Group plc, Business
Description, Transmission and Distribution 90
9.3.6 BG Group plc, Business
Description, Major Products and Services 91
9.4 BG Group plc, Value Chain
Analysis 92
9.4.1 BG Group plc, Value Chain Analysis, Upstream 92
9.4.2 BG Group plc, Value Chain Analysis, Midstream 93
9.4.3 BG Group plc,
Value Chain Analysis, Downstream 94
9.5 BG Group plc, SWOT Analysis 94
9.5.1 BG Group plc, SWOT Analysis, Overview 94
9.5.2 BG Group plc, SWOT
Analysis, Strengths 95
9.5.3 BG Group plc, SWOT Analysis, Weaknesses
96
9.5.4 BG Group plc, SWOT Analysis, Opportunities 97
9.5.5 BG Group
plc, SWOT Analysis, Threats 98
9.6 BG Group plc, Revenue Analysis 99
9.6.1 BG Group plc, Revenue Analysis, Revenue by Segment 99
9.6.2 BG Group
plc, Revenue Analysis, Revenue by Geography 100
9.7 BG Group plc,
Financial and Operational Review 101
9.7.1 Financial Statements 101
9.7.2 Financial Ratios 102
10 EOG Resources, Inc. 103
10.1 EOG
Resources, Inc., Key Information 103
10.2 EOG Resources, Inc., Company
Overview 103
10.3 EOG Resources, Inc., Business Description 103
10.3.1
EOG Resources, Inc., Business Description, Business Overview 103
10.3.2
EOG Resources, Inc., Business Description, Exploration and Production 104
10.3.3 EOG Resources, Inc., Business Description, Major Products and Services
105
10.4 EOG Resources, Inc., Value Chain Analysis 106
10.4.1 EOG
Resources, Inc., Value Chain Analysis, Upstream 106
10.5 EOG Resources,
Inc., SWOT Analysis 107
10.5.1 EOG Resources, Inc., SWOT Analysis,
Overview 107
10.5.2 EOG Resources, Inc., SWOT Analysis, Strengths 108
10.5.3 EOG Resources, Inc., SWOT Analysis, Weaknesses 108
10.5.4 EOG
Resources, Inc., SWOT Analysis, Opportunities 109
10.5.5 EOG Resources,
Inc., SWOT Analysis, Threats 110
10.6 EOG Resources, Inc, Revenue Analysis
111
10.6.1 EOG Resources, Inc, Revenue by Segment 111
10.6.2 EOG
Resources, Inc, Revenue by Geography 112
10.7 EOG Resources, Inc,
Financial and Operational Review 113
10.7.1 Financial Statements 113
10.7.2 Financial Ratios 114
11 Financial Deals Landscape 115
11.1
Detailed Deal Summary 115
11.1.1 Acquisition 115
11.1.2 Equity
Offerings 116
11.1.3 Partnerships 117
11.1.4 Asset Transactions
119
12 Recent Developments 125
12.1 License Rounds 125
12.1.1 Dec
11, 2008: Trinidad And Tobago To Open Bidding For New Exploration Licenses In
2009 125
12.2 License Awards 125
12.2.1 Dec 30, 2008: Trinidad And
Tobago To Sign PSC For Marine Block 125
12.3 Strategy and Business
Expansion 126
12.3.1 Apr 07, 2009: LN Mittal To Quit From Trinidad JV With
ONGC 126
12.4 Recent Discoveries 126
12.4.1 Aug 13, 2008: Canadian
Superior Announces Natural Gas Discovery Offshore Trinidad 126
12.5
Drilling and Production Updates 127
12.5.1 May 15, 2009: Leni Gas & Oil
Provides Production Update 127
12.5.2 Apr 14, 2009: Leni Gas & Oil
Provides Production Update 129
12.5.3 Mar 05, 2009: Leni Gas & Oil
Provides Production Update 131
12.5.4 Mar 03, 2009: Challenger Energy
Announces Initial Flow Test Results From Endeavour Well, Offshore Trinidad
132
12.5.5 Feb 12, 2009: BPTT To Place Savonette Platform Into Production
132
12.5.6 Feb 09, 2009: Fluor Announces First Gas At Poinsettia Platform
Offshore Trinidad 133
12.5.7 Feb 03, 2009: Leni Provides Production Update
134
12.5.8 Jan 23, 2009: Canadian Superior To Commence Flow Test On
Endeavour Well, Offshore Trinidad 135
12.5.9 Jan 09, 2009: Leni Provides
Production Update 136
12.5.10 Dec 29, 2008: Canadian Superior Updates On
Endeavour Well Offshore Trinidad & Tobago 137
12.5.11 Dec 11, 2008: Leni
Provides November 2008 Production Update 138
12.5.12 Dec 08, 2008:
Canadian Superior Temporally Suspends Drilling On Endeavour Well In Intrepid
Block, Trinidad & Tobago 139
12.5.13 Nov 12, 2008: Maxim Reaches Total
Depth At ER-100 Well In South Erin Field, Trinidad 140
12.5.14 Oct 29,
2008: Challenger Updates On Drilling Activities At Endeavour Well In Offshore
Trinidad 140
12.5.15 Oct 23, 2008: Maxim Drills South Erin Well In
Trinidad 141
12.5.16 Oct 14, 2008: Canadian Superior Runs 13-5/8" Casing
On Endeavour Well In Intrepid Block 5(c) Offshore Trinidad 141
12.5.17 Oct
09, 2008: Maxim To Drill Four Wells At South Erin Oil Field In Trinidad
142
12.6 Financial Announcements 142
12.6.1 Aug 25, 2008: Primera
Energy Declares 2Q 2008 Results 142
12.7 Other Significant Developments
144
12.7.1 May 15, 2009: Petro Andina Completes Airborne Geophysical
Survey In Trinidad & Tobago 144
12.7.2 May 01, 2009: Petro Andina Provides
Q1 2009 Operational Update 144
12.7.3 Feb 17, 2009: Repsol To Increase
Investments In Trinidad And Tobago 147
12.7.4 Dec 30, 2008: OMEL Energy To
Invest $500 Million In Trinidad And Tobago 148
12.7.5 Sep 08, 2008:
Trinidad And Tobago To Help Uganda In Oil Managment 149
12.8 New Contracts
Announcements 149
12.8.1 Nov 03, 2008: KBR Receives $1.2 Million From BG
T&T For Two Pre-FEED Studies 149
13 Appendix 151
13.1 Methodology
151
13.1.1 Coverage 152
13.1.2 Secondary Research 153
13.1.3
Primary Research 153
13.1.4 E&P Forecasts 153
13.1.5 Midstream
Forecasts 155
13.1.6 Expert Panel Validation 155
13.2 Contact Us
155
13.3 About GlobalData 155
13.4 Disclaimer 156
1.1 List of
Tables
Table 1: Trinidad and Tobago , Historical and Forecasted
Production and Consumption of Natural Gas, 1996-2020 13
Table 2: Trinidad
and Tobago , Historical and Forecasted Exports of Natural Gas, 1996-2020
15
Table 3: Trinidad and Tobago , Historical Reserves of Natural Gas,
1996-2008 17
Table 4: Trinidad and Tobago, Production Bonus For Standard
Area, 2007 22
Table 5: Trinidad and Tobago, Production Bonus For Deepwater
Area, 2007 23
Table 6: Trinidad and Tobago, Rentals Rates For Standard
Area, 2007 23
Table 7: Trinidad and Tobago, Rentals Rates For Deepwater
Area, 2007 24
Table 8: Trinidad and Tobago, Cost Recovery For Standard
Areas, 2007 25
Table 9: Trinidad and Tobago, Cost Recovery For Deepwater
Areas, 2007 25
Table 10: Trinidad and Tobago, Profit Oil/Gas For Standard
Areas, 2007 26
Table 11: Trinidad and Tobago, Profit Oil/Gas For Deepwater
Areas, 2007 26
Table 12: South and Central America, Investment
Benchmarking, Overall Country Rankings, 2008 30
Table 13: South and
Central America, Investment Benchmarking, Upstream Fiscal Attractiveness, 2008
31
Table 14: South and Central America, Investment Benchmarking, Gas
Sector Performance, 2008 33
Table 15: South and Central America,
Investment Benchmarking, Economic Performance, 2008 37
Table 16: South and
Central America, Country Standings, Economic Performance, 2008 38
Table
17: South and Central America, Investment Benchmarking, Socio-Political
Performance, 2008 40
Table 18: South and Central America, Country
Standings, Socio-Political Performance, 2008 40
Table 19: Trinidad and
Tobago, Natural Gas Key Statistics, 2008 42
Table 20: Trinidad and Tobago,
Total Marketed Natural Gas Production (MMcf), 2001-2008 43
Table 21:
Trinidad and Tobago, Marketed Natural Gas Production (MMcf), by Assets,
2001-2008 44
Table 22: Trinidad and Tobago, Marketed Equity Weighted
Natural Gas Production (MMcf), by Company, 2001-2008 45
Table 23: Trinidad
and Tobago, Market Share (%) based on Marketed Natural Gas Production,
2001-2008 47
Table 24: Trinidad and Tobago, Marketed Natural Gas
Production(MMcf), Forecast by Assets, 2009-2014 48
Table 25: Trinidad and
Tobago, Forecasted Assets-wise Gross Revenue(000' $), 2009-2014 48
Table
26: Trinidad and Tobago, Projected Assets-wise Total Government Take(000' $),
2009-2014 49
Table 27: Trinidad and Tobago, Projected Assets-wise Total
Contractor Take(000' $), 2009-2014 49
Table 28: Trinidad and Tobago, Active
Gas Field Assets Details 50
Table 29: Trinidad and Tobago, Planned Gas
Field Assets Details 50
Table 30: Trinidad and Tobago, Pipeline Key
Statistics, 2008 51
Table 31: Trinidad and Tobago, Natural Gas Pipelines
Length By Company (Km), 2008 51
Table 32: Trinidad and Tobago, Natural
Gas Pipelines, 2008 53
Table 33: Trinidad and Tobago, Natural Gas
Pipelines, 2008 (contd.) 54
Table 34: Trinidad and Tobago, LNG Key
Statistics, 2008 55
Table 35: Trinidad and Tobago Liquefaction Capacity
(Million Tonnes), 2000-2015 55
Table 36: Trinidad and Tobago, Liquefaction
Capacity, Company- Wise (Million Tonnes), 2000-2015 56
Table 37: Trinidad
& Tobago, Liquefaction Capacity (Million Tonnes), 2000-2015 57
Table 38:
BHP Billiton, Key Facts 59
Table 39: BHP Billiton, SWOT Analysis 74
Table 40: BHP Billiton, Revenue by Segment, USD Million, 2003-2007 80
Table 41: BHP Billiton, Revenue by Geography, USD Million, 2003-2007 81
Table 42: BHP Billiton, Financial Statements, USD Million, 2003-2007 82
Table 43: BHP Billiton, Financial Ratios, USD Million, 2003-2007 83
Table
44: BG Group plc, Key Facts 84
Table 45: BG Group plc, SWOT Analysis
95
Table 46: BG Group plc, Revenue by Segment, GBP Million, 2003-2007
99
Table 47: BG Group plc, Revenue by Geography, GBP Million, 2003-2007
100
Table 48: BG Group plc, Financial Statements, GBP Million, 2003-2007
101
Table 49: BG Group plc, Financial Ratios, GBP Million, 2003-2007
102
Table 50: EOG Resources, Inc., Key Facts 103
Table 51: EOG
Resources, Inc., SWOT Analysis 107
Table 52: EOG Resources, Inc., Revenue
by Segment, USD Thousand, 2003-2007 111
Table 53: EOG Resources, Inc.,
Revenue by Geography, USD Thousand, 2003-2007 112
Table 54: EOG Resources,
Inc., Financial Statements, USD Thousand, 2003-2007 113
Table 55: EOG
Resources, Inc., Financial Ratios, USD Thousand, 2003-2007 114
Table 56:
Pioneer Exploration To Acquire Macallan Oil & Gas 115
Table 57: Primera
Energy Completes Private Placement Of $1.48 Million 116
Table 58: Bayfield
Energy To Form Joint Venture With Petroleum Company of Trinidad and Tobago
117
Table 59: Benchmark Energy Enters Into Joint Venture Agreement With
Fram Exploration 118
Table 60: Canadian Superior Energy To Sell 25%
Interest In Its Intrepid Block 5(c) Offshore And Related Discoveries 119
Table 61: Talisman Energy To Sell Its Trinidad Assets To Sinopec And CNOOC
120
Table 62: Talisman Energy To Sell Its Assets In Netherlands, Denmark
And Trinidad 122
Table 63: Kroes Energy Sells Its 25% Interest In The
Icacos Block To Leni Gas & Oil 123
Table 64: EOG Acquires U(b) Block From
Primera Oil & Gas 124
1.2 List of Figures
Figure 1: Trinidad and
Tobago, Energy Sector break-up, 2008 11
Figure 2: Trinidad And Tobago,
Natural Gas Production And Consumption, Billion Cubic Feet, 1996-2020 14
Figure 3: Trinidad And Tobago, Natural Gas Exports, Billion Cubic Feet,
1996-2020 16
Figure 4: Trinidad And Tobago, Natural Gas Reserves, Billion
Cubic Feet, 1996-2008 18
Figure 5: Trinidad And Tobago, Upstream Oil & Gas
Fiscal Regime (PSA), Sample Cashflows, 2005-2016 29
Figure 6: South and
Central America, Country Standings, Upstream Fiscal Attractiveness, 2008
32
Figure 7: South and Central America, Country Standings, Gas Sector
Performance, by Reserves-Exploration & Production, 2008 34
Figure 8: South
and Central America, Country Standings, Gas Sector Performance, by Production
& Consumption, 2008 35
Figure 9: South and Central America, Country
Standings, Exploration Blocks Awarded, 2008 36
Figure 10: South and
Central America, Country Standings, Economic Performance, 2008 38
Figure
11: South and Central America, Country Standings, Socio-Political Performance,
2008 41
Figure 12: Trinidad and Tobago, Natural Gas Assets Map, 2008
42
Figure 13: Trinidad and Tobago, Total Marketed Natural Gas Production
(MMcf), 2001-2008 43
Figure 14: Trinidad and Tobago, Marketed Equity
Weighted Natural Gas Production (MMcf), by Company, 2001-2008 46
Figure
15: Trinidad and Tobago, Market Share (%) based on Marketed Natural Gas
Production, 2008 47
Figure 16: Trinidad and Tobago, Natural Gas Pipelines
Length By Company (Km), 2008 52
Figure 17: Trinidad and Tobago
Liquefaction Capacity (Million Tonnes), 2000-2015 56
Figure 18: Trinidad
and Tobago Liquefaction Capacity, Company- Wise (Million Tonnes), 2000-2015
57
Figure 19: BHP Billiton, Value Chain Analysis 71
Figure 20: BG
Group plc, Value Chain Analysis 92
Figure 21: EOG Resources, Inc., Value
Chain Analysis 106
Figure 22: GlobalData Methodology 152
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