Woodside Energy, an Australian company, is developing Calypso with BP. But Calypso’s geology is complicated. The field is made up of unconnected pockets of gas, meaning that multiple wells would be needed, making drilling more expensive.
“We’re working through the concepts and trying to figure out how do we get something that will work for everybody,” said Meg O’Neill, chief executive of Woodside.
Analysts said Trinidad needed to move fast or risk losing gas customers to other exporters, like the United States and Qatar, that are building newer and more efficient liquefied natural gas terminals.
That might be a tall order, and even some Trinidadians who have long worked in oil and gas worry that little can be done to halt their industry’s decline.
Ronnie Beharry worked in various field positions before becoming a manager at a gas field operated by Touchstone Exploration. He has only a high school education but can afford to send his eldest daughter to college.
“I tell them to look at other options because we’ve started to go green,” he said, referring to his three children. “I don’t know where things are headed. Sometimes I think the country has a backup plan, and sometimes I don’t.”