The Government is strengthening Trinidad and Tobago’s energy security through a new NGC-bpTT partnership, securing a 20% stake in Manakin-Cocuina, while advancing the development of key domestic gas resources.
Prime Minister Kamla Persad-Bissessar is celebrating the latest partnership, saying it is part of the Government’s commitment to securing Trinidad and Tobago’s energy sector.
“In February 2015, back to February 2015, when I was your Prime Minister, both governments agreed to develop the field as a single unit, giving 66% to Manakin and 34% to Cocuina. This makes Manakin-Cocuina Field the only, as mentioned, unitised cross-border gas field in the Western Hemisphere, where agreement has been reached to develop the entire field.”
She also congratulated bp on agreeing to acquire Woodside Energy’s 70% interest in the offshore Calypso gas project, increasing its stake in Block TTDAA 14 to 100% and assuming operatorship.
“What this will do, this will accelerate our work in the energy industry, in energy Calypso is a major domestic gas source and the first ever deep-water development.”
According to bpTT CEO David Campbell, the move marks another step in the growing partnership between bpTT and NGC, supporting progress on the unitised Manakin-Cocuina cross-border development and enhancing regional energy cooperation.
“Manakin-Cocuina extends across the main maritime boundary between the two countries, the fuel represent an important opportunity to leverage existing infrastructure in Trinidad and Tobago while monetising gas resources that straddle the international boundary. This marks another significant milestone in advancing the development of the Manakin Cocuina resources. BP’s enduring partnership with NGC has long been a cornerstone of Trinidad and Tobago’s gas industry.”
NGC Chairman Gerald Ramdeen admitted that the accomplishment was no easy feat.
“This is a project that was sanctioned in 2015, and what we’ve done in a little over a year is what could not have been done in 10 years under the last administration. These negotiations are very hard negotiations, and I would like to pay respect to the manner in which those negotiations were conducted by bpTT.”
The Prime Minister also thanked US President Donald Trump for the continued partnership, noting that the US is a key partner in energy, technology, health, security and cross-border gas development.