HomeEconomyOilTrinidad and Tobago obtains license for gas production with Venezuela

Trinidad and Tobago obtains license for gas production with Venezuela

The government of the neighboring country announced that it will continue the exploration, production and export of gas with our country.

The Minister of Energy and Energy Industries and Minister of the Office of the Prime Minister of the Government of Trinidad and Tobago, Stuart Young, announced through the social network X, that his government received a license from the Office of Foreign Assets Control of the United States Department of the Treasury (OFAC), to move forward with the energy businesses it maintains with the Bolivarian Republic of Venezuela.

“The Government of the Republic of Trinidad and Tobago has received a specific license from OFAC from the United States Treasury to continue the exploration, production and export of gas with the Government of the Bolivarian Republic of Venezuela for the Cocuina hydrocarbon field -Manakin,” wrote the senior official.

The Oil and Gas project between Venezuela and Trinidad and Tobago in the Cocuina-Manakin cross-border hydrocarbon field "will become the most important gas hub in the Caribbean," as recognized by the Minister of Petroleum and president of Petróleos de Venezuela SA (PDVSA). ), Pedro Rafael Tellechea.

In December, Venezuela granted Trinidad and Tobago a license for the extraction and export of gas, with the participation of the British hydrocarbon company Shell, in the Dragon field, located in the waters of the Venezuelan state of Sucre (northeast), next to the coast. northwest Trinidad.

Caracas seeks to certify more than 50 gas blocks, with which it hopes to become the fourth reserve in the world and conquer new markets.

More licenses to operate in Venezuela

Recently, the Spanish oil company REPSOL and the Italian company ENI received a license from the US organization to continue their operations linked to oil activity in Venezuela. This license was granted after the expiration of OFAC General License No. 44 last April.

The United States Government has received between 20 and 50 individual license applications from companies seeking to do business in Venezuela's oil industry, after the North American nation reimposed sanctions in April of this year.

Businessmen from the energy world trust in the profitability of the oil business in Venezuela, despite the unilateral coercive measures imposed by Washington.


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