Venezuela, Trinidad Meet Over Border Gas

Instant Max AI

(Energy Analytics Institute, Ian Silverman, 26.Aug.2013) – Venezuelan Oil Minister Rafael Ramirez met with his counterpart from Trinidad and Tobago, Kevin Ramnarine in Caracas to discuss a development plan for natural gas fields that straddle the maritime borders of their countries.

The ministers announced plans to develop the Manatee-Loran gas discoveries offshore in the cross-border Block 6d (Trinidad) and Block 2 (Venezuela).

The blocks contain estimated gas reserves of 10 Tcf, Ramirez said. Under a Framework Treaty and Unitization Agreement, Venezuela and Trinidad will assume interests of 73.06% and 26.94%, respectively, in developments, Ramirez said.

PDVSA and Chevron will likely develop the fields from the Venezuelan side of the maritime border, Ramirez said. Additionally, gas from the developments on the Venezuelan side will be shipped via a pipeline to Güiria and destined for export to Colombia.

Editor’s Note:

Venezuela and Trinidad signed a Unification Agreement in March 2007. Other fields that straddle Venezuela and Trinidad maritime borders include Kapok-Dorado (Block 1), Manakin-Cocuina (Block 4).

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