A Rich History in Oil & Gas
Trinidad is approximately 5,000 square kilometers in size and is located adjacent to the South American mainland, less than 11 kilometers to the northeast of Venezuela. It is situated within the Venezuela basin, recognized as the world’s largest hydrocarbon basin.
The country has a rich history in the oil and gas sector, accompanied by substantial infrastructure and a wealth of expertise. The disparity between supply and demand continues to prevail, guaranteeing a consistent market appetite for Touchstone’s oil and gas.
INDUSTRY TIMELINE
| 1866 | First oil is discovered |
| 1908 | First commercial onshore oil production commences |
| 1912 | First refinery built |
| 1953 | First commercial use of natural gas to generate power at the Penal power station |
| 1975 | Formation of the National Gas Company of Trinidad for the transmission and sale of natural gas |
| 1989 | Trinidad introduced LOAs and farm-outs |
| 1991 | Start-up of the Phoenix Park natural gas processing facility |
| 1996 | Construction of the Atlantic LNG facility commences |
| 1998 | Invested US$355 million to upgrade the Point-a-Pierre refinery, increasing capacity to 160,000 bbls/d |
| 1999 | Atlantic LNG train 1 begins production |
| 2001 | Production commenced at Titan Methanol, the world’s largest methanol plant at 1.7 million tonnes per year |
| 2002-2003 | Start-up of Atlantic LNG trains 2 and 3 |
| 2005 | Start-up of Atlantic LNG train 4 – the world’s largest LNG train with a capacity of 800 mcf/d |