T&T heading to Venezuela for gas talks, says Moonilal

IN PARLIAMENT

■ Anna Ramdass

anna.ramdass@trinidadexpress.com

ENERGY Minister Dr Roodal Moonilal says Trinidad and Tobago officials will be heading to Venezuela soon to say "Hola" (hello) as negotiations advance on a major agreement that could unlock approximately six trillion cubic feet (TCF) of natural gas for this country.

In a statement to the Parliament yesterday, Moonilal said Government was on track to turning around the economy through the energy sector.

He took a jab at the trade unions' protest in the capital city, noting there was an interruption "by what appeared to be a poorly attended funeral procession where I believe my friends opposite could not even muster their party to support a march. Mr Speaker, they brought friends, family and daddy and failed."

He said Trinidad and Tobago and Venezuela were in active negotiations to finalise a government-to-government agreement for the measurement and fiscalisation of gas from the Loran field.

The parties are expected to meet shortly to finalise the arrangements.

"That negotiation agreement signals a clear intention on the part of this Government to engage with Venezuela and very soon we will be across there to say 'Hola'," Moonilal said.

He said the negotiations also signalled Venezuela's intention to commercialise gas from the Loran field through Trinidad and Tobago.

In parallel, the National Gas Company (NGC) is engaged in advanced discussions with Shell and international energy investment company XRG to secure a percentage of the potential six TCF of gas to meet domestic petrochemical demand and liquefied natural gas (LNG) supply obligations.

Moonilal said Government was also progressing the Extra-Territorial Measurement Agreement necessary for the commercialisation of the first phase of Loran, which targets 1.7 TCF of natural gas.

The development comes as Trinidad and Tobago seeks to reverse declining natural gas production, strengthen its downstream industries and secure additional supplies for LNG exports.

Manatee and Coconut projects

Providing an update on recent achievements in the energy sector, Moonilal said the Shell-operated Manatee project had reached a significant milestone with the successful installation of its topsides and jacket earlier this month.

He praised the skilled local workforce at TOFCO for fabricating the Manatee jacket, the largest ever constructed locally.

First gas is expected in 2027, with peak production projected at approximately 600 million standard cubic feet per day (mmscf/d).

When combined with the first phase of Loran, peak production is expected to reach approximately 900 mmscf/d.

Moonilal also highlighted progress on the Coconut project, a joint venture between EOG Resources and bpTT.

TOFCO successfully completed the loadout of the Coconut jacket in October, marking the second major offshore structure dispatched from its fabrication facility within days.

The project is expected to deliver first gas in 2027, with peak production of approximately 300 mmscf/d.

NGC has successfully negotiated to acquire 100% of EOG's share of Coconut gas to support domestic petrochemical and downstream operations.

Moonilal said the projects demonstrated renewed investment and the ability of local companies to execute complex offshore developments.

He also pointed to record production at bpTT's Juniper facility, which achieved 700 mmscf/d in October, its highest daily production rate since operations began in 2017.

The minister credited the 2010–2015 People's Partnership administration, led by Prime Minister Kamla Persad-Bissessar, with establishing the incentives and investment framework that facilitated Juniper's development.

ExxonMobil targets drilling in 2028

Turning to deepwater exploration, Moonilal said ExxonMobil had completed one of the largest seismic surveys ever conducted in Trinidad and Tobago.

The company is processing the data acquired from ultra-deepwater Block TTUD1 to guide potential exploration drilling targeted for 2028.

He said ExxonMobil's return represented a significant opportunity to expand the country's hydrocarbon resource base.

"We recognise that failure to explore today can mean lost opportunities for tomorrow," he said. The Government, he added, remained committed to facilitating responsible investment and efficient regulatory processes.

Moonilal also reported continued progress on the Dragon gas project, being developed by Shell and NGC.

He said development activities were under way and NGC had recently contributed funding required for the project's execution as part of its equity participation.

Dragon targets reserves of 1.233 TCF, with first gas expected in 2028 and peak production projected at 415 mmscf/d.

Onshore, Touchstone Exploration continues drilling and production optimisation across its WD-4, Ortoire and Central blocks.

Its PS-623 well in WD-4 recorded an initial field-estimated production rate of approximately 387 barrels of oil per day during its first 24 hours of operation, he stated.

'TURNING AROUND ECONOMY': Energy Minister Dr Roodal Moonilal answers a question yesterday in Parliament.