Beyond the Barrel: Securing T&T’s Energy Future

October 1st, 2026

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By Kay Baldeosingh-Arjune

Anchoring T&T’s Energy Ambitions
To reposition the sector for long-term success, Dr Marajh points to three key priorities:

• securing more gas through projects like Manatee, Aphrodite, Ginger, Coconut and Onyx;
• keep the Point Lisas Industrial Estate supplied with reliable, competitively priced feed gas; and
• pursue energy transition in ways that are practical. 

Achieving these ambitions will require win-win collaborations. “None of these goals is possible without mutually beneficial partnerships like the ones we’ve built with the US, India, Guyana, and Suriname over decades,” she notes. “We’re not doing this alone, and we learn as much from those partners as we contribute.”

Although gas production has declined since reaching its highest level in 2010, Dr Marajh insists this trend does not tell the full story, noting the recent entry of two major international players into the local offshore energy industry and the strong interest shown by several companies in the 2025 deepwater bid round.

Deepwater Growth, Local Value Creation
Exxon Mobil Corporation signed its Trinidad and Tobago Ultra Deep-1 (TTUD-1) agreement in August 2025, marking a renewed presence in T&T’s offshore sector with a potential investment of US$16.4 to US$21.7 billion. Occidental Petroleum has also taken a 10% stake in this massive 7,165-square kilometre block off T&T’s east coast, where water depths exceed 2,000 metres.

The TTUD-1 Block presents technically demanding, frontier-level work. “Local companies already have subsea and deepwater experience, with specialist subsea contractors, marine service providers, and fabrication and logistics firms that have established track records on complex offshore projects. What we need now is scale: matching that capability to the volume and complexity of this new work,” advises Dr Marajh.

She sees significant opportunities for local service providers in this new phase. “The goal is about creating lasting value: more joint ventures with international specialists, real investment in training and technology, and clear paths for companies to move from marine services, logistics, fabrication, and project management into the specialised subsea work that’s now opening up.”

Training for a Changing Industry
Dr Marajh is proud of the role the Energy Chamber is playing to help build local talent and workforce capability in the sector. “Our Energy Chamber Learning Centre runs the core safety and technical training the industry depends on. The Safety Essentials Programme, developed with the Houston Area Safety Council, is built around how people learn today, which matters when five generations are working the same sites,” she explains.

Trinidad and Tobago’s workforce is already overwhelmingly local. In 2024, 99.5% of the more than 11,000 workers who earned a Point Lisas Energy Association (PLEA) certification in the downstream sector were T&T nationals, she reports. “What’s changing is the skill set. Digitisation, automation, and artificial intelligence (AI) are reshaping what the industry needs, so we’re investing more in developing training programmes for young people entering the industry and retraining those already in it, ensuring our workforce moves with the industry instead of falling behind,” she points out. The Energy Chamber’s Local Content Forum feeds directly into this. It’s where members share what’s working and where the gaps are, ensuring that training investment goes where it’s needed.

This focus on workforce development is also supported by international partners. ExxonMobil, for example, has committed US$935,000 to training, research, and scholarships for Trinidad and Tobago nationals in its first contract year on the TTUD-1 Block.

Partnerships Power Regional Expansion
The Energy Chamber is also actively supporting its members as they explore new markets. “Regional collaboration only works if everyone at the table benefits,” Dr Marajh underscores. In 2026, the Energy Chamber signed Memorandums of Understanding (MOUs) with the Georgetown Chamber of Commerce and Industry in Guyana and with the Suriname Energy Chamber. Both agreements reflect a common goal: closer co-operation across the energy value chain, on local content, and on supply chain integration.

“Guyana and Suriname’s energy sectors are growing fast. Our goal isn’t for our companies to simply move in. It is to work alongside our peers, so all three countries grow together,” she explains. “In practice, that means connecting our members with counterpart chambers and companies, exchanging knowledge in both directions, and backing each other’s local content goals, because a stronger region is more competitive for everyone in it.”

To unlock the sector’s full potential, she identifies four key factors that will drive growth across the region: deeper collaboration, stronger local expertise, improved ease of doing business, and increased investment. “Countries need to streamline processes, align standards, and cut the friction that turns good intentions into paperwork instead of outcomes,” she urges.

TABLE 9
SUMMARY OF CENTRAL GOVERNMENT FISCAL OPERATIONS
2021/2022-2025/2026 (TT$ MILLIONS)

	2021/2022	2022/2023	2023/2024	2024/2025	2025/2026
Revenue	54,607.0	54,683.9	47,840.4	49,079.1	55,366.8
Current	53,921.3	54,525.0	47,821.2	47,628.2	54,655.7
Energy	29,347.7	27,794.9	13,403.4	15,895.4	17,294.2
Non-Energy	24,573.6	26,730.1	34,417.8	31,732.8	37,361.5
Capital	685.7	158.9	19.3	1,450.9	711.2
(Per Cent of GDP)
Revenue	29.6	31.3	27.8	28.1	31.1
Current	29.2	31.2	27.8	27.2	30.7
Energy	15.9	15.9	7.8	9.1	9.7
Non-Energy	13.3	15.3	20.0	18.1	21.0
Capital	0.4	0.1	0.0	0.8	0.4

TABLE 10
ENERGY-BASED GOVERNMENT REVENUE, 2019/2020 – 2024/2025
(Per Cent of Government Revenue)

	2020/2021	2021/2022	2022/2023	2023/2024	2024/2025
Energy Sector	25.1	53.7	50.8	28.0	32.4
Petroleum Profit Tax (PPT)	6.9	16.4	13.7	9.1	9.6
Supplemental Petroleum Tax (SPT)	1.4	4.6	4.9	3.1	2.0
Corporation tax	6.6	13.9	9.7	6.0	6.4
Royalties	5.4	10.6	13.6	5.0	6.7
Unemployment Levy	0.9	3.6	2.7	1.4	1.2
Withholding Tax	1.5	1.0	2.2	1.5	5.3
Exercise Duty	0.0	0.0	0.0	0.0	0.0
Oil Impost	0.3	0.2	0.2	0.2	0.3
Signature Bonus	0.1	0.2	0.0	0.0	0.1
Production Sharing Contracts	0.0	0.0	0.0	0.0	0.0
Extraordinary Revenue from Oil and Gas Companies	0.7	3.2	3.8	1.5	0.5
Surplus Income -Sale of Pet. Products	1.2	0.0	0.0	0.1	0.3

(Per Cent of GDP)	53,921.3	54,525.0	47,821.2	47,628.2	54,655.7
Energy Sector	5.9	15.9	15.9	7.8	9.1

Leading the Next Energy Chapter
A leadership transition is the right time to be direct: about what’s working, what needs fixing, and why we exist in the first place, extracting maximum value from our energy resources for members, industry, and country, Dr Marajh states.

The Energy Chamber’s membership spans the full value chain – upstream operators, downstream and petrochemical manufacturers, and the energy services companies and contractors who support them. “Each group is facing something different right now. Operators are structuring major new developments. Downstream players are managing tighter feed gas supply. Service companies and contractors want steady work and a real voice in the decisions that affect them. My job is keeping that balance, so the gains reach the whole chain instead of collecting at one end,” she notes.

This commitment to balance and shared benefit is crucial as Trinidad and Tobago navigates its next chapter. With a wealth of energy infrastructure, expertise, and hydrocarbons, the country has an exceptional platform for future growth. As the International Monetary Fund (IMF) observed in June 2026, Trinidad and Tobago: 2026 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Trinidad and Tobago: “Oil and gas rents have been a cornerstone of its economic development and will continue to drive medium-term growth and fiscal and export revenues. Achieving both horizontal and vertical diversification will be critical to navigate the challenges posed by global energy markets and foster sustainable growth.”