Offshore gas platform. Photo: File photo.
Trinidad and Tobago’s Energy Minister Stuart Young announced that seismic studies will begin in the coming days in the coastal gas fields shared by Venezuela and the island nation.
These works will allow for a detailed identification of the potential gas reserves present in the Cocuina and Manakin fields.
Young said on social media platforms this Friday, August 30, “Seismic survey work will begin in the coming days at Manakin and Cocuina. Record times are being set and real results are being delivered.”
Between both gas exploitation areas, the Venezuelan portion belongs to the PDVSA’s Deltana Platform maritime gas project.
Additionally, the PXGEO-2 vessel and two support vessels are expected to conduct a 3D seismic survey starting next month on an extension of the Manakin field, the Trinidadian official added, citing a marine advisory notice from British oil company British Petroleum (BP).
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Venezuela license
The project will be developed by BP and Trinidad’s National Gas Company, after Venezuela issued a 20-year license allowing development of its side of the field, the Cocuina field, in July. Earlier this year, the United States also greenlighted the project via an US Office of Foreign Assets Control (OFAC) license, as illegal US sanctions still affects oil production in Venezuela.
It is important to note that Venezuela, with vast untapped gas reserves, is actively seeking foreign investment to develop its energy resources. However, unilateral coercive measures imposed by the US are hampering the progress of these projects.
On July 24, Venezuela and Trinidad and Tobago strengthened their energy cooperation map. Both countries signed important documents as part of the exploration and exploitation licenses for non-associated gaseous hydrocarbons in the Cocuina field of the Deltana platform.
(RedRadioVE) with Orinoco Tribune content
Translation: Orinoco Tribune
OT/JRE/MCM
