The energy market in Trinidad and Tobago has been rapidly expanding over the years with many big names across the energy sector playing a vital role in its development both onshore and offshore. Every year the region exports billions of dollars’ worth of crude oil to local and international customers. Crude oil developments in Trinidad and Tobago are overseen by the government, and in 2018 Heritage Petroleum Company Limited (Heritage) was formed as a state-owned oil and gas company with a focus on the exploration, development, production and marketing of crude oil for the nation. Heritage now plays a vital role in harnessing the crude oil potential of Trinidad and Tobago for the continued economic prosperity it brings the region. However, throughout every operation, you can see Heritage’s commitment to safety, environmental protection and social responsibility to ensure that the energy sector can support the region’s people both today and in the future.
Incorporated in 2018, Heritage is a relatively new company operating within Trinidad and Tobago’s energy sector. Its operations began in the southern part of Trinidad and Tobago, and this is where the bulk of its operations exist today. In the last 6 years, the company has continued to develop and Heritage now has various non-operated assets off the east coast of Trinidad too. Across these assets, Heritage’s central vision is to be a company that brings together financial profitability, operational excellence and a plethora of world-class expertise within the oil and gas sector to deliver energy projects that will further consolidate Trinidad and Tobago’s position as an energy powerhouse in global markets.
Heritage’s operations span 5 key areas: offshore, land, business development, subsurface and midstream operations. Across its offshore operations, Heritage plans, executes and operates a range of upstream projects within the Soldado Fields. Within this rich oil area, Heritage has developed surface and subsurface activities, which are delivering significant oil results offshore from Trinidad and Tobago. Then, in understanding Heritage’s subsurface operations, we must look at its Field Development Plan (FDP). The FDP is utilised across all of Heritage’s subsurface operations to develop and execute vital drilling programmes which will maximise the recoverables from each drilling operation and bring significant and long-lasting benefits from its current and future fields of operations. A key project of this division currently is to extend the existing boundaries of many of its current fields to see higher recoverable reserves.
On land, Heritage is responsible for drilling and workover activities designed to increase the production of crude oil. Across this division, Heritage’s teams work to discover new oil deposits and put together strategic drilling programmes that are designed to enhance Trinidad and Tobago’s existing reservoirs. Throughout all of its land assets, Heritage maintains and develops each operation to meet its production targets and to deliver vital energy to the people of Trinidad and Tobago. Alongside its land operations, are Heritage’s midstream development operations which are focused on receiving crude oil from offshore, land and lease oil operators, and delivering this to the Paria Fuel Trading Company which refines and sells the crude oil products to local markets within Trinidad and Tobago.
Across all of these operations, we can see that Heritage Petroleum is committed to providing vital profitability legacy for Trinidad and Tobago by being a company that is passionate about developing the oil and gas sector towards the future of energy development. This drive for future development was highlighted in April 2024, when Heritage announced the commissioning of a new offshore well within the Soldado East Field development block. The offshore well, S-938, is the third well to be put into production by Heritage in the region since the beginning of its Offshore Drilling programme. The drilling began in August 2023 following rigorous design and engineering development by Heritage’s teams of exports. The topsides of the well were completed in March 2024 and then underwent inspection and statutory approvals before it was fully commissioned. With an expected average daily rate of 500 barrels per day (bopd), S-938 looks set to provide a significant boost to the company’s revenue, and in turn the economy of Trinidad and Tobago. Now completed, the well is a vital asset for Heritage in the Soldado East Field, which will position Trinidad and Tobago’s energy development prominently within the global energy market.
CEO of Heritage, Erik Keskula, actually commented in the press release announcing the commissioning of the new well that the well will be operated with “a goal of optimising fluid production rate to maximise oil recovery and cash flow”. Keskula’s comments were followed by his emphasis on the importance of the new well highlighting Heritage’s performance and role in developing new offshore wells and facilities. By playing a vital role in this, it seems Heritage is set on shaping the future of oil development for Trinidad and Tobago for many years to come.
In fact, as Heritage looks towards the future of the S-938 development, it is anticipated that 3 additional wells will be commissioned in the next few months. This will be a vital part of Heritage’s ongoing Offshore Drilling programme. What is clear to see across this development is that Heritage is committed to delivering a well that will see economic and energy development for the region, and in return see significant returns for its stakeholders which include the government and people of Trinidad and Tobago as a priority.
Ultimately, Heritage is a company that is set on shaping the future of Trinidad and Tobago’s energy sector. Having been established as the state-owned oil and gas company that will be leading the exploration, production, development and marketing of crude oil, Heritage has made it its mission to ensure that every single operation delivers significant positive impacts on the local stakeholders and people of Trinidad and Tobago. With a development plan set on expanding its exploration both onshore and offshore, we look forward to seeing how Heritage will continue to play a vital role in leading Trinidad and Tobago’s energy sector towards a future where social, environmental and economic development remains at the heart of the region’s energy sector.
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