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Presentation Outline
Company Overview
Strategic Goals and Targets
Upstream
Downstream
Future Plans
A t la n t ic O c ean
ME
XI
CO
JAMAICA
PUERTO
R IC O
HI S P A N IO LA
G U AT E M A L A
H O N D UR A S
EL
S A LV A D O R
C arib b ea n Se a
NI C A RA G U A
C O S TA
R IC A
PAN A M A
C O L O M B IA
V E NE ZUE LA
PETROTRIN
Evolution of Petrotrin
MERGER (Expanded Trintoc) (1985)
UBOT
(1912 - 1956)
SHELL
(1956 - 1974)
(1974 - 1985)
TLL
(1911 - 1956)
1993
(1956 - 1985)
TPD
(1918- 1961 )
APEX
(1919 - 1960)
KTO
(1920 - 1961)
Trinidad Northern
Areas (TNA) 1952
(1985 - 1993)
2000
TRINMAR LTD.
1993-2000
BRITISH
PETROLEUM
(1956 - 1969)
TESORO
(1969 - 1985)
1969-1974
1974-1985
TRINTOPEC
(1985 - 1993)
Reporting Relationship
Government of The Republic of
Trinidad and Tobago
Board of Directors
Executive Chairman
Corporate Sec.
Chief Internal Auditor
GM Law & Land Management
President Operations
VP Finance &
Corporate Planning
VP
Expl. & Production
VP HR &
Corporate Services
HSE
Business
Oriented
Relationship
Financial Discipline
& Self Sustainability
TARGETS
ROACE
14%
Reserve
Replacement
E&P Production
Costs
Production
Portfolio
R&M Margins
40 50% gas
Market Share
Maintain Regional
Operational Excellence
Grow Extra-Regional
Staff Satisfaction
75%
Score
Capabilities Gap
UPSTREAM CHALLENGES
Declining production and reserves
Stripper land operations
High level of idle wells and unexplored
acreage
Aged infrastructure
High operating costs
Geologically complex reservoirs
Limited experienced technical professionals
EXPLORATION
UNITIZATION
DEVELOPMENT
Reward
Petrotrin 100%
E&P Licences
Joint Ventures
Producing Fields
Farm Outs
Risk Service (Future)
Lease Outs
Risk
10
FARMOUT
Acreage leased
Drilling optional
Drilling obligation
ORR to Petrotrin
ORR to Petrotrin
12
13
JOINT VENTURES
KEY ELEMENTS
EXPLORATION JV
DEVELOPMENT JV
Contribution to training
scholarships for Nationals.
Signature bonus
and
14
UNITISATION
KEY ELEMENTS
Merging of contiguous leases and developing
areas jointly
Expenses and revenues shared according to a
mutually agreed percentage split
Selected reservoirs or all reservoirs may be
unitised
15
16
of
Oil
Gas
Blocks
BOPD
MMSCFD
BOEPD
Joint Ventures
16
3,838
134.7
27,068
Lease Operators
23
4,581
0.7
4,701
Farmouts
13
2,091
2,091
52
10,510
135.4
33,860
Total
17
5000
4000
3000
2000
1000
0
Oct-89
Apr-90
Oct-90
Apr-91
Oct-91
Apr-92
Oct-92
Apr-93
Oct-93
Apr-94
Oct-94
Apr-95
Oct-95
Apr-96
Oct-96
Apr-97
Oct-97
Apr-98
Oct-98
Apr-99
Oct-99
Apr-00
Oct-00
Apr-01
Oct-01
Apr-02
Oct-02
Apr-03
Oct-03
Apr-04
Oct-04
Apr-05
Oct-05
Apr-06
Oct-06
Apr-07
BO PD
6000
Lease Operatorships
Farmouts
18
NCMA
140.0
NCMA/
Central
Block
SECC
Conversion
120.0
80.0
60.0
40.0
20.0
Ow n Operated
JV/LO/FO
20
07
20
06
20
05
20
04
20
03
20
02
20
01
20
00
19
99
19
98
19
97
19
96
19
95
0.0
19
94
MMCFD
100.0
19
NCMA
NCMA/
Central
Block
90000.0
SECC Conv.
/TSP
80000.0
70000.0
50000.0
40000.0
30000.0
20000.0
10000.0
Ow n Operated
JV/LO/FO
20
07
20
06
20
05
20
04
20
03
20
02
20
01
20
00
19
99
19
98
19
97
19
96
19
95
0.0
19
94
BOEPD
60000.0
PARTNERS
International Major Oil & Gas Companies
BG
BHP
Talisman
Anadarko
EOG Resources
Petro-Canada
ENI
Repsol
Total
20
DOWNSTREAM CHALLENGES
Aging and inefficient equipment
Low valued product slate
More stringent gasoline and diesel
specifications
Market competition (PetroCaribe)
Competition for experienced technical
professionals
21
Pointe-a-Pierre Refinery
Established 1917
Average Crude Capacity of 160,000 BOPD
Phase 1 Upgrade Completed 1997
GOP Upgrade In Progress
GTL Plant In Progress
ULSD Project in Planning
22
23
Rewards
Downstream
Joint Ventures
New Products e.g. GTL
Risk
24
62.0
South America
64.0
West Africa
34.0
TOTAL CRUDE
160.0
Main Products
(Domestic Usage approx 20% of Total Volume)
LPG
Aviation Gasoline
Motor Gasoline
Kerosene/Avjet
25
FUTURE PLANS
Upstream
Downstream
Expansion of
JV/LO/Farmout
programmes
Completion and
Commissioning of Gasoline
Optimization Project
Partnerships for
development of heavy oil
and tar sands
Cross Border Unitisation of
Gas Fields (Venezuela)
Participation in new bid
rounds
26
Petroleum
Petroleum Company
Company of
of Trinidad
Trinidad and
and Tobago
Tobago Limited
Limited
Thank You
2007