STATE ENTERPRISES’ INVESTMENT PROGRAMME 2014
16
SUSTAINING GROWTH, SECURING PROSPERITY
PETROLEUM COMPANY OF TRINIDAD AND TOBAGO LIMITED (PETROTRIN)
For over one hundred (100) years, Petroleum
Company of Trinidad and Tobago Limited
(PETROTRIN) continues to be in the oil and
gas business. The company operates both on
land and offshore; its principal activities are to
explore, produce, refine, manufacture, buy and
sell petroleum and natural gas and otherwise
deal with crude oil, natural gas and petroleum
products.
PETROTRIN’s downstream sector includes the
refiningof crudeoil and thesellinganddistribution
of products derived from crude oil and natural
gas. These products include gasoline or petrol,
jet fuel, diesel oil, liquefied petroleum gas (LPG)
and other fuel oils.
PETROTRIN’s upstream operations include
operated and non-operated assets onshore and
offshore Trinidad. The operated assets include
the TRINMAR offshore fields located in the Gulf
of Paria to the south-west of Trinidad as well as
its onshore fields across the southern portion
of the island. The non-operated or joint venture
assets are located onshore in the south-western
portion of the island and off the north, east and
west coasts of the island.
REFINING AND MARKETING DIVISION
• Gasoline Optimization Programme
– The
Gasoline Optimization Programme (GOP)
is critical to the company’s operations.
This project will impact positively on the
profitability and viability of the company’s
future operation and enable the company to
meet international standards.
The programme involves:
• the upgrade of the Fluid Catalytic
Cracking Unit (FCCU) from 26,000
to 35,000 bpsd (barrels per stream
day);
• installation of a new Isomerisation
complex;
• installation of a Continuous Catalytic
Regeneration
(CCR)
platformer
complex;
• installation of a New Sulphuric Acid/
Alkylation Unit; and
• installation of Offsite Facilities and
Upgrades of utility systems.
PETROTRIN issued a US$600.0 million Bond
in 2006 and another Bond in the amount of
US$850 million in August 2009 to finance
the GOP as well as the Ultra-Low Sulphur
Diesel Plant. Mechanical works on all the
units were completed. The new Sulphuric
Acid/Alkylation Unit is expected to be
commissioned in September 2013. The total
cost of the GOP is estimated at US$1.4 billion
(approximately TT$9.3 billion). Completion is
expected in fiscal 2013. The cost of the GOP
increased over time due to the expansion in
the scope of works.
Additional projects associated with the GOP
include:
• Bund Wall/Fire Water System
– Tank 181 –
PETROTRIN commenced construction and
installation of offsite facilities and upgrade of
utility systems to include a new five (5) million
gallon per day water treatment facility and
two (2) new 275,000 pounds per hour (lbs/
hr) steam boilers at an estimated cost of
$21.0 million. The water treatment facility is
operational and the two (2) new boilers are to
be commissioned in fiscal 2013.
ECONOMIC INFRASTRUCTURE
