Last update: 08-Dec-2013 4:55 am
Sunday, December 08, 2013
Trinidad & Tobago Guardian Online
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Four oil companies in Loran-Manatee pact
The agreement signed earlier this week between Energy Minister Kevin Ramnarine and his Venezuelan counterpart Minister Rafael Ramirez provides for the functional structure and governance of the Loran-Manatee natural gas field that straddles the Trinidad and Tobago/Venezuela delimitation line.
The agreement, signed in Caracas, Venezuela, at the head office of PdVSA, establishes a directing committee that comprises representatives of both governments and the companies involved—PdVSA, Chevron Trinidad and Tobago, Chevron Global and BG. The agreement also establishes an investment committee that comprises the four companies involved. The next step will be formulation of a development plan for the field.
Both ministers hailed the development as a positive step for economic co-operation between both countries. Ramnarine noted that the agreement was historic as it was some ten years in the making. He said it was the most significant event between both countries since the signing in 1990 of the delimitation treaty.
T&T and Venezuela are members of the Gas Exporting Countries Forum (GECF). At the second GECF Global Gas Summit in Moscow on July 1, Ramnarine said the time had come for both countries to partner to develop the natural gas reserves in the Plataforma Deltana.
The T&T delegation that accompanied Ramnarine to witness the signing included permanent secretary, Ministry of Energy and Energy Affairs, Selwyn Lashley; Ambassador Gerard Thompson of the Ministry of Foreign Affairs; T&T Ambassador to Venezuela Anthony David Edgill; adviser to the board of the National Gas Company of Trinidad and Tobago (NGC), Andrew Jupiter; chairman of the NGC, Roop Chan Chadeesingh; Lisa-Ann Fraser of the Attorney General’s office and Marise Warner of the Ministry of Foreign Affairs.
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