Opportunities with Petrotrin
Khalid Hassanali
President
Energy Chamber Luncheon
17th October 2012
Petroleum Company
of Trinidad and Tobago Limited
Company Overview
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PETROTRIN is the largest integrated oil and gas company in Trinidad and Tobago (T&T)
Overall Leadership
Largest integrated Oil and Gas Company in T&T, a major revenue generator with a leading position in oil and gas refining as well as in exploration and production
Sales Revenue(e) for FY2011/12 of TT $ 40 Billion
Ownership 100% owned by the Government of the Republic of Trinidad and Tobago
Government Take(e) for FY2011/12 of TT $ 1.6 Billion (Royalties, SPT , PPT, Levy)
Location Strategically located to supply the Caribbean, Central America and the U.S. markets resulting in a transportation-cost advantage
Crude Oil Producer
Leading producer of crude oil in T&T - Average crude production of approximately 35KBPD in FY2011/12 – approx. 42% of the country's total crude output
Oil and Gas production from Joint Ventures 30KBOEPD
Marketing and
Refining
Clients Long standing sales relationships with international Oil & Gas companies – Shell, Exxon and Chevron account for more than 23% of PETROTRIN’s refined products sales.
Owner and operator of the sole crude oil refinery in T&T, the Pointe-a-Pierre Refinery
Full conversion capacity of up to 168,000 bpd and average throughput of approximately 127,650 bpd
Leading supplier of petroleum products in the regional CARICOM - 49% market share
(e) - estimated
Petrotrin in National Development
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Business Investor
Invested TT $24.5 billion during the period 2002 to 2011. FY 12/13 Capex of TT$ 4.0 Billion
Operating expenditure including salaries and wages, materials , contracts, utilities, etc. amounted to TT $29.4 billion. FY 2012/13 Opex of TT$4.5 Billion
Contributor to the Treasury
Over TT $32.0 billion paid in royalties, SPT and Petroleum Profits Tax over the period 2002 to 2011
Some US $ 27 billion (TT $177.6 billion) earned in foreign exchange between 2002 and 2011
Developer of indigenous business capability
Over 700 firms registered as contractors > 75% Local
Over 2800 registered suppliers to the company > 75% Local
Lease Operatorships ( 24) , Farmouts (10) and IPSC (5)
Community Relations
Petrotrin fosters and maintains close relations with the communities adjacent to its operations and extends its corporate philanthropy to the wider national community
Human Developer
We cater for our employees as well as other citizens of Trinidad and Tobago through – Employee training, Employee education initiatives, Leadership development, Undergraduate and Graduate Trainee Programmes, OJT and Apprenticeship
Petrotrin’s Business Model / Strategic Imperatives
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Upstream Producing Fields
Refinery Markets
FY 2011/12 Refined products sold to:
Local 21% Regional 23 %
Extra Regional 13% International 43%
Crude Imports
Strategic Imperatives • Institute culture of accountability, efficiency, HSE and risk
management
• Increase reserves and production
• Maximize returns on refinery investment
• Cost Management
• Improve stakeholder relationships
Exploration and Production
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Joint Ventures – Participating Interest
BLOCKSEQUITY
INTERESTJOINT VENTURE PARTNERS
Moruga West 40.0% Neal and Massy Energy Resources Limited
Central Block 35.0% BG Trinidad Central Block Limited
SW Peninsula 27.5% Trinidad Exploration and Development Unlimited
Parrylands 'E' 25.0% New Horizon Exploration Trinidad & Tobago Unlimited
Central Range Deep 20.0% Voyager Energy (Trinidad) Ltd, Parex Resources (Trinidad) Ltd.
Central Range Shallow 35.0% Voyager Energy (Trinidad) Ltd, Parex Resources (Trinidad) Ltd.
Guayaguayare Deep 20.0% Voyager Energy (Trinidad) Ltd
Guayaguayare Shallow 35.0% Voyager Energy (Trinidad) Ltd
East Brighton (Sub-Area B) 30.0% Primera East Brighton Limited / SOOGL Antilles (Trinidad) Ltd.
Pt. Ligoure 50.0% Ten° North Energy Limited
Pelican 16.0%
EOG Resources Trinidad Limited / The National Gas Company of Trinidad and
Tobago Limited (NGC)
SECC 16.0% EOG Resources Trinidad Limited / NGC
NCMA Unitized Area 19.5%
BG Trinidad & Tobago Limited / ENI Trinidad & Tobago Limited / NSGP (Ensign)
Limited
TSP 15.0% Repsol YPF S.A. (Repsol E&P T&T Limited) / NGC
Block 1A 20.0% Centrica (Horn & Wren) Limited
Block 1B 20.0% Venture North Sea Gas Limited
Block 3A 15.0%
BHP Billiton (Trinidad 3-A) Ltd / Chaoyang Petroleum (Trinidad) Block 3A Limited
/ Kerr-McGee TT E&P Ltd / Elf Exploration Trinidad B.V.
Mayaro Guayaguayare 30.0% Sonde Resources Trinidad and Tobago Limited
Block 22 10.0% Centrica Resources Limited
Galeota 35.0% Bayfield Energy (Galeota) Limited
Block 2ab 35.0%
Centrica Resources (Armada) Limited, Niko Resources Trinidad and Tobago
Limited, Voyager Energy (Trinidad) Ltd.
NCMA2 20.0% Niko Resources Trinidad and Tobago Limited, RWE Dea AG
NCMA3 20.0% Niko Resources Trinidad and Tobago Limited
NCMA4 20.0% Venture North Sea Oil Limited
ONSHORE
OFFSHORE
Exploration and Production
Strategic Focus Areas
• Reversing the declining trend of reserves and production
from a mature asset base while developing new fields
• Controlling cost of operations
• Improving Asset Integrity
• Pursuit of External Opportunities
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Exploration and Production
Key Upstream Activities
• Exploration and subsequent development activity following 3D seismic on Land .
• Accelerated exploitation of Trinmar Licence
– SWS reactivation and development
– Cluster 6 (Jubilee)
• Improving recovery from stripper land operations (Enhanced Oil Recovery (EOR), Field Optimization etc.)
• Reactivation of idle wells
• Monetization of Trinmar heavy oil reserves
• Upgrading infrastructure on land and offshore
• Drilling and Workovers
– Trinmar 1 drilling rig yr and 2 workover rig yrs
– Land 1.5 drilling rig years 18 workover rigs (10 Contractor)
• Land Bid Round
– Petrotrin to facilitate Land bid round on behalf of MEEA . Areas outside of existing producing fields to be put out for bid
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SWS CONTRACTED FLOATING FACILITY(BEFORE RETROFIT)
CLUSTER 20 PREP WORK (before works)
SW Soldado Cluster 20 (Prep work ongoing)
Refining and Marketing
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Refining and Marketing
Clean Fuels Upgrade
– Gasoline Optimisation Programme is almost complete. Last plants are being commissioned. GOP comprised
• New Isomerisation Unit
• New CCR Platformer Unit
• New Acid/ Alkylation Train
• Upgraded FCCU
• Associated offsites and Utilities
– Ultra Low Sulphur Plant under construction – 86.3 % Complete (Construction)
Margin Maximisation
– Assessing opportunities to move further down refined products value chain
• Expansion of local bunkering
• Opportunities in external markets
#8CDU Turnaround ( 49 Days )
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Acid Alkylation Complex
FCCU
CCR Platformer Isomerisation Unit
Gasoline Optimisation Plants
ULSD CONSTRUCTION
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ULSD Construction
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Other Opportunities
• Supply of services and systems in respect to enhancing our water and air quality
– Consultancy services
– Mitigation treatment systems
– Technology application
• CDM project opportunities
– Project implementation opportunities
– Leverage Petrotrin’s POA to include other projects
• Other Opportunities
– Refinery water supply from Sea Lots
– Land and Trinmar pipeline and facilities Maintenance
– Chemical Treatment of pipelines
– Debottlenecking production facilities at Trinmar
– Supply of marine craft
– Offshore residential facilities
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Q&A
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WILD FOWL TRUST AT POINTE-A-PIERRE
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