Heritage Petroleum Company Limited

What Heritage Petroleum Company Limited does

Heritage Petroleum Company Limited is the state-owned crude oil exploration and production company of Trinidad and Tobago, incorporated on 5 October 2018 and operational since 1 December 2018. The company operates onshore and offshore acreage in southern Trinidad, with the offshore position centered on the Soldado Fields and onshore operations comprising drilling and workover activities on legacy land concessions. Midstream infrastructure at the Point Fortin Terminal receives crude from Heritage's offshore, land and lease operator sources, performs fiscalization, and pumps to Paria Fuel Trading Company (another state entity) for cargo sales into international markets.

The company's core product portfolio is upstream crude oil, organized into five operational pillars: Offshore (Soldado Fields), Land (drilling, workover, and reservoir maintenance), Midstream (receiving, fiscalization, pumping), Subsurface (field development plans, infill drilling optimization), and Business Development (joint ventures and partnerships for both onshore and offshore ventures). Supporting this is a Health, Safety, Security and Environment (HSSE) management framework, a Control of Work (CoW) safety system with Stop Work Authority, and an SAP Ariba-based digital procurement platform implemented in November 2020. The technology base is standard upstream petroleum industry technology rather than proprietary or differentiated systems.

Heritage is wholly owned by the Government of Trinidad and Tobago and operates under a national mandate to maximize financial returns from the country's oil reserves. Trinidad and Tobago's state energy sector contributed 44.5%, 87.9% and 97.6% of the country's dividends, corporate tax and foreign exchange earnings respectively in 2024, positioning Heritage at the core of national economic output. Revenue is generated through crude oil production and commodity sales via the Paria Fuel Trading Company channel; no commodity pricing is publicly disclosed. Heritage maintains an extensive social sustainability programme stack (HERO scholarships, HITT technology training, HOMEE environmental outreach, Here We Grow agriculture) and a Graduate Training Programme for energy-sector workforce development. The company is governed by a Board of Directors and led by Acting CEO Kerry Rampersad, appointed 22 September 2025.

Name

Heritage Petroleum Company Limited

Legal name

Heritage Petroleum Company Limited

Website

https://heritage.co.tt

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Heritage Petroleum Company Limited is Trinidad and Tobago's state-owned oil and gas company, exploring, developing, producing and marketing crude oil from onshore acreage in southern Trinidad and the offshore Soldado Fields, with crude sold through state partner Paria Fuel Trading Company.

Ownership category

akta.pro rank

Headquarters

HQ city

Port-of-spain

HQ country

Trinidad & Tobago

HQ region

Latin America

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Infrastructure, Supply Chain, Personnel, Technology or R&D, Marketing or Sales

Revenue model

1. Crude Oil Production and Sales: Heritage generates revenue through exploration, development, production and marketing of crude oil. The company operates offshore fields (Soldado Fields) and land operations in southern Trinidad. Crude is received from offshore, land and lease operators, undergoes fiscalization, and is sold through Paria Fuel Trading Company for cargo sales. State energy sector is described as the backbone of Trinidad and Tobago's economy.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Heritage Petroleum Company Limited explores, develops, produces, and markets crude oil from its offshore operations (Soldado Fields) and land operations in southern Trinidad. The company operates midstream infrastructure that receives crude from offshore, land, and lease operators, performs fiscalisation, and pumps crude to Paria Fuel Trading Company for cargo sales. It also pursues joint ventures, partnerships, and new business ventures in onshore and offshore oil and gas.

Product overview

Heritage Petroleum Company Limited is Trinidad & Tobago's state-owned oil and gas company focused on crude oil exploration, development, production, and marketing through onshore and offshore operations. The company's product portfolio centers on its core crude oil production business comprising Offshore Operations (Soldado Fields), Land Operations (drilling and workover activities), Midstream Operations (crude receiving, fiscalisation, and pumping to Paria Fuel Trading Company), Subsurface Operations (field development planning), and Business Development (partnerships and joint ventures). Supporting these core operations are the Health, Safety, Security and Environment (HSSE) management framework including Control of Work (CoW) safety systems, and the SAP Ariba e-procurement system for supply chain management. Heritage also maintains extensive social sustainability programmes including the HERO scholarship programme, HITT technology training, HOMEE environmental outreach, Here We Grow agricultural initiative, and a Graduate Training Programme for future energy professionals. The company produces ESG reports and GHG emission inventories as part of its sustainability commitments.

Differentiator

Problem solved

Functional benefit

Brands

• HERO (Heritage Education Resource Opportunity): Scholarship programme offering $100,000 to aid top performing SEA students within fenceline communities with continuing their education.
• HITT (Heritage Information Technology Training)
• HOMEE (Heritage Outreach to Maximise Environmental Excellence)
• Here We Grow

Products and services

• Crude Oil Exploration and Production Heritage's primary business focusing on exploration, development, production, and marketing of crude oil through onshore and offshore operations primarily located in southern Trinidad.
• Offshore Operations Maximising value through efficient execution of projects and routine upstream activities within the Soldado Fields, including surface and subsurface activities while protecting base production.
• Land Operations Land-based drilling and workover activities to increase production, find new oil deposits, direct drilling programs to increase reservoirs, and maintain land assets to meet production targets.
• Midstream Operations Receiving crude from Offshore, Land and Lease Operators, fiscalisation of the crude, and pumping to Paria Fuel Trading Company for cargo sales.
• Subsurface Operations Understanding Heritage's resources and planning systematic development through Field Development Plans (FDPs) for major oil fields, optimising infill drilling programmes and maximising recoveries.
• Business Development (JVs, Partnerships, New Business Ventures) Strategic partnerships central to Heritage's strategy for realising asset potential through partnerships with Government and commercial partners providing capital and technical expertise for onshore or offshore ventures.

Segments1 record

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• University of Trinidad and Tobago (UTT)coreStrategic or Co-development Partner · 4 February 2026Heritage and UTT signed an MOU to boost research, innovation and skills. The partnership aims to strengthen collaboration between industry and academia in areas relevant to the energy sector, supporting workforce development and research initiatives.
• Barbados National Oil Company Limited (BNOCL)coreStrategic or Co-development Partner · 1 March 2023Heritage executives met with BNOCL counterparts at Woodbourne facility, Barbados, to explore collaboration on a joint secondary recovery program at BNOCL's Woodbourne Oilfield. Heritage shared details of its onshore and offshore operations, competencies in managing mature assets, and implementation of robust Operations Management System that has improved safety, efficiency and financial results. Discussions focused on increasing oil and gas production from the Woodbourne Oilfield.
• National Energy Skills Centre (NESC)minorStrategic or Co-development Partner · 1 January 2023NESC partnered with Heritage's HITT (Heritage Information Technology Training) programme to equip persons between 7 and 65 years of age with essential Information Technology skills. NESC provides quality digital literacy training and issues certificates of participation upon successful completion.
• Children's Authority of Trinidad and TobagominorOthersHeritage donated approximately 500 computers to facilitate online learning to the Children's Authority of Trinidad and Tobago and COSTAATT.
• COSTAATTminorOthersHeritage donated approximately 500 computers to facilitate online learning to COSTAATT and the Children's Authority of Trinidad and Tobago.

Scale indicators2 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• DeNovo Energy: DeNovo operates offshore gas production (e.g., Iguana, Dolphin fields) in Trinidad and Tobago waters. Comparable independent upstream operator in the same geographic basin targeting similar hydrocarbon plays.
• BP Trinidad and Tobago: BP's Trinidad subsidiary operates offshore production and gas processing in Trinidad and Tobago waters. Highly comparable as a major upstream operator in the same geography with offshore fields and export infrastructure.
• Petrotrin: Trinidad and Tobago's former state-owned integrated oil company (predecessor to Heritage) operating refining, marketing, and upstream assets in Trinidad. Most directly comparable as the legacy national oil company from which Heritage was carved out in 2018.
• Repsol Exploración Trinidad: Repsol has operated gas assets in Trinidad (e.g., Teak, Samaan fields). Comparable as an IOC upstream operator active in Trinidad's offshore sector with technical capabilities Heritage's leadership team has interfaced with.
• Shell Trinidad and Tobago: Shell operates offshore production (including Manatee cross-border field) and was previously active in Trinidad's upstream sector. Comparable offshore operator in the same basin with similar E&P capabilities and export logistics.
• Perenco Trinidad and Tobago: Perenco operates onshore and nearshore oil production in Trinidad, including mature fields in southern Trinidad that overlap directly with Heritage's land operations footprint.

Regional players

• Touchstone Exploration: Touchstone is a publicly traded upstream E&P company with onshore production in Trinidad focused on the Ortoire block. Closely comparable in business model (onshore crude/gas E&P) and operating jurisdiction (Trinidad), though publicly listed rather than state-owned.
• Trinity Exploration & Production: Trinity operates onshore oil production in Trinidad and Tobago with a similar focus on mature onshore fields. Comparable Caribbean-focused independent E&P with overlapping operational characteristics (workover, infill drilling on legacy acreage).
• Barbados National Oil Company Limited (BNOCL): BNOCL is Barbados's state-owned upstream company and a direct partner of Heritage on the Woodbourne secondary recovery program. Highly comparable as a Caribbean state-owned E&P exploring enhanced oil recovery on mature fields.

Others

• National Gas Company of Trinidad and Tobago (NGC): NGC is Trinidad and Tobago's state-owned midstream/downstream gas company. Comparable as a sister state-owned energy entity with shared government ownership and integrated midstream infrastructure serving Trinidad's hydrocarbon value chain.

Market position

Strengths1 record

Weaknesses5 records

Competitive moat4 records

Customer concentration

• Xtwitter.com/heritage_tt
• Facebookfacebook.com/heritagepetroleum
• LinkedInlinkedin.com/company/heritage-petroleum-company
• Instagraminstagram.com/heritage_petroleum_tt

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Heritage Petroleum Company Limited