The continuous decline in Trinidad and Tobago’s crude oil production has accelerated the drive to boost oil production from unconventional sources.One such source is a tar sands deposit with estimates of original volume in-place between 400 million and 2,000 million barrels of bitumen.To corroborate the volumetric estimates or determine the correct and acceptable volumes of bitumen resources,geostatistical analysis was performed.This was considered a critical first step towards assessing the feasibility of exploiting the tar sands. Methods for converting bitumen from tar sands to synthetic crude oil(SCO)were analysed and a dry-retorting technique was selected to circumvent the environmental hazards associated with the traditional Clarke’s hot-water process.Additionally,a socio-environmental survey was conducted with residents and workers in the area in order to estimate their mean perceived impacts of various aspects of bitumen extraction techniques and to have them weigh in on various possible proposed mitigation/ remedial/compensation solutions. The paper showed volumes of bitumen in place to average approximately 500 million barrels for a major tar sands reservoir.Capital costs,crude price,and environmental concerns impact significantly on the profitably of producing SCO from tar sands.The quantum of Government’s take would be decisive in deciding investor participation since inclusion of royalty and corporate tax has resulted in a mere breakeven position for the base case scenario.Exploiting tar sands can be considered viable and could assist in boosting declining crude oil production in the country.Environmental mitigation and continuous prolonged remediation coupled with tax incentives would be necessary to quiet public outcry and attract investor interest.
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