(Trinidad Guardian) Petróleos de Venezuela SA (PDVSA) and the Government of T&T on Monday signed the first agreement unifying the gas reserves located in the Lorán-Manatee field alongside their maritime border, whose certified gas reserves amount to 10 trillion cubic feet.
The agreement was signed by Carolyn Seepersad-Bachan, Ministry of Energy and Energy Affairs, and Rafael Ramírez, Venezuela’s Energy and Oil Minister and president of PDVSA at PDVSA’s headquarters. The joint work will continue in order to reach agreements unifying the fields Dorado-Kapot and Cocuina Manakin located the maritime border between both countries. Seepersad-Bachan told delegates, “Like the Government of the Bolivarian Republic of Venezuela, the Government of T&T is working to ensure that our oil and gas wealth is monetised in a manner that promotes national development and a stable future for our people.
“In doing so, we are both mindful of our responsibility to assist our regional partners to the extent possible in our overall effort to promote sustainable, people-centred development. Her counterpart Ramirez said, “Since 2003, our team of ministers started to work on the unifying process. In 2007, we signed the unifying treaty that includes the successive processes and unify the gas reserves as soon as possible, and today we signed the first unifying agreement,” said Ramírez. He explained that according to the proportion of each side, Venezuela’s reserves amount to 7.3 TCF and T&T 2.7 TCF.
“This agreement represents for T&T the continuity of its extraordinary development plans in the area of natural gas; while for Venezuela, it means we can make use of the gas we have on the side of the Deltana Platform (East) so as to keep sending gas to the Gran Mariscal de Ayacucho (Cigma) natural gas complex in Guiria. (Sucre state, northeast), and eventually for our gas exporting projects,” Ramírez said. In addition, this accord opens direct gas cooperation models between the governments and local companies. “Our governments insist on using these natural resources for the benefit of both countries.”
