NGC Awarded 20% Participating Interests In Charuma And Cipero Onshore Blocks

The National Gas Company of Trinidad and Tobago Limited (NGC), through its subsidiary, NGC E&P Investments Limited, signed two Exploration and Production (E&P) Licences with the Ministry of Energy and Energy Industries for 20% participating interest in both the Charuma Block and Cipero Block.

Primera Oil and Gas Limited (wholly owned subsidiary of Touchstone Exploration) will be the operator of both blocks with 80% participating interest. The signing took place on Friday 21 June 2024, at the offices of the Ministry of Energy and Energy Industries (MEEI), Port-of-Spain.

The execution of these E&P Licences, is the culmination of the 2022 Onshore and Nearshore Competitive Bid Round, which allowed for state-owned enterprises to be given non-operated participating interest in each block.

The award of these blocks is in keeping with NGC’s strategic objectives to proactively seek opportunities to promote the development and monetisation of Trinidad and Tobago’s natural gas reserves both onshore and offshore. NGC will work collaboratively with the Operator in the exploitation of the country’s onshore acreage within these blocks, with the aim to bring us a step closer to stabilising the country’s gas supply and securing the sustainability of Trinidad and Tobago’s energy sector.

At the signing, NGC Group Chairman, Dr. Joseph Ishmael Khan, commented, “We are excited by this opportunity to help shore up the country’s natural gas volumes, and the attendant opportunity to expand our business portfolio; because as a state company, when we grow, our nation profits.”

He also expressed his confidence that all stakeholders will work collaboratively to convert this opportunity into a productive outcome for Trinidad and Tobago

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