The Trinidad and Tobago government has announced the results of the 2015 Ryder Scott Natural Gas Reserves Audit, which showed that there has been nearly a 1-tcf decrease in proved reserves compared with 2014.
The country’s Energy Minister Nicole Oliverre told the Parliament that proved gas reserves now stand at 10.6 tcf, down from 11.5 tcf in 2014. The risked probable and possible reserves also have been reduced, to 3.24 tcf and 1.15 tcf, respectively, while the exploration potential is 7.76 tcf.
In total the Caribbean twin-island nation’s 3P reserves in 2015 fell to 14.99 tcf from 22.7 tcf in 2014.
Ryder Scott’s survey also showed that in the last 13 years, there has been a steady decline in the country’s proved reserves by an average of nearly 1 tcf/year. In 2002, proved reserves were 20.8 tcf, probable reserves were 8.3 tcf, and possible reserves were 6.1 tcf, for a total 3P of 35.1 tcf.
Oliverre said the latest decline was because of a low reserves replacement ratio, 34%, which she said is not sustainable.
She told the Parliament that “there is hope.” She said, “There are several operators carrying out work that can have a positive impact on the reserves.”
Trinidad and Tobago’s energy minister revealed that BHP Billiton Ltd.’s first deepwater well, Le Clerc-1 STR, which encountered multiple gas reservoirs on Block TTDAA5, has not been included in the reserves audit.
Oliverre added, “The second deepwater well is currently being drilled in the Burrokeet prospect on Block 23(a). Prospects in the nine deepwater blocks were not included in the 2015 audit due to lack of sufficient data, however with the information garnered from the two exploratory wells, these prospects will be included in future audits.”