T&T is a mature producer, over 100 years in the business. Our geology is extremely complex, unlike the passive margin deposits being found now offshore Guyana and Suriname. Deepwater exploration in T&T is therefore very risky, and the chances of success are still low. Our producing fields are in various stages of maturity and many require large capital investments to improve or just maintain production. The oil story remains grim, as most of the known oil resources lie with Heritage, who is yet to demonstrate any tangible plans for meaningfully increasing oil production. However, the country remains a major gas producer, and several development projects are underway to ensure new gas supply. The tentative dates and details for these projects are as follows, and the map below shows the approximate locations:
2021 and 2022 – Touchstone – Onshore gas and condensate discoveries Coho, Cascadura, Chinook and Cascadura Deep should all come on production within the next few years.
Touchstone Exploration Inc (LON:TXP) is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago.
