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Partnering with Petrotrin

Petrotrin is open to new strategic business relationships and as such, offers opportunities for Joint Venture or Strategic Alliance partners in the following areas:

Our principal strategy in the upstream end of business is to increase oil and gas reserves as well as to redefine PETROTRIN as an Energy Company where participation in Trinidad's and the world's rising gas economy will be in focus . PETROTRIN is therefore seeking to widen its span of activity to gain access to local and foreign based gas and oil reserves. With this, potential opportunities now exist and will be created ranging from outright purchases of existing blocks to equity participation with particular focus on off- shore acreages.

In the refining and marketing - upstream - business we are intent on reducing fuel oil yield and increasing the volume of high-end products while remaining ahead of the increasingly stringent international environmental specifications for various fuels. Our strategy also involves optimizing use of land and infrastructure resources at our Pointe-a-Pierre Industrial Estate.

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Marine Exploration and Production Joint Venture Opportunities

Trinmar: In 2000, Petrotrin acquired Texaco's 1/3 share in Trinmar. Production has averaged 35000BPD in fiscal 1999/00. A potential exists for heavy oil production in this acreage which can see production levels reaching over 45000 BPD.

Galeota: In fiscal 2004/05 production averaged 1359 BPD. Partnership potential exists to raise production levels to 2,000bpd.

Trintomar & South East Coast Consortium (SECC): In partnership with EOG Resources Trinidad Limited and the National Gas Company of Trinidad and Tobago, PETROTRIN has a 16% sharehold in this south-east Trinidad block holding great partnership potential for deep well activity.

North and West Coast Gas: PETROTRIN has a 19.5 % share in North Coast Marine Area Gas Development. Other partners are BGTT, Eni and Petrocanada. This venture has opened PETROTRIN's participation in the LNG market. PETROTRIN is also seeking to acquire solely or in partnership gas reserves on the Western peninsula of Trinidad.

Allan Russell
General Manager - Production Operations
Phone: 868-658-2127
E-mail: allan.russell@petrotrin.com

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Exploration and Production on Land

Current production from land operations averaged 17,576 BPD in fiscal 2004/05. Partnering opportunities exist for increasing production through employment of several initiatives which include but are not limited to optimising wells, enhanced oil recovery methods, advanced technologies. Opportunities can be accessed via joint venture arrangements, leasing or farm out contracts.

Lease Operatorship and Farmouts:
In fiscal 2005 PETROTRIN continued granting licences to private entrepreneurs for work over activities of idle wells. Crude oil production for fiscal 2005 from lease operatorship and farm out blocks averaged 5,063 bpd. By end fiscal 2005, 19.1 million barrels of oil were been produced from these programmes since their inception. These programmes offer lucrative opportunities for the small operator with minimal overheads.

Tar Sand Opportunities:
PETROTRIN controls considerable, easily accessible tar-sand reserves presenting good opportunity for joint-venture development. Presently involved with Western Oil of Canada in mining the tar-sands.


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Other Non-traditional Business Opportunities

1. Gas-to-Liquids (GTL) Plant in Pointe-a-Pierre

World GPL Inc. will be providing the financing and management necessary to install the GTL plant and Petrotrin will provide site and utilities requirements, inclusive of specific gas reserves. The project promotes diversification in the use of Trinidad's natural gas reserves but more so, will provide Petrotrin with zero sulphur, high cetane diesel for the use as a blend stock.

2.  Ethanol Dehydration Facilities