Saturday 5 December, 2020

B'dos, T&T to sign MOU on offshore energy development

Trinidad and Tobago’s Prime Minister, Dr Keith Rowley is expected in Barbados tomorrow to sign a Memorandum of Understanding between both countries for cooperation on energy development.

The announcement from Minister of Energy and Energy Industries Dr Franklin Khan, who says the team, will include himself and also Minister of Foreign and CARICOM Affairs, Dennis Moses, and Minister of Finance, Colm Imbert along with other officials drawn from the Ministry of Energy.

“ . . . the [MOU] between the Governments [concern] cooperation in energy development for hydrocarbons that extends across a single maritime boundary.  As you are aware [BHP Billiton Limited] has been making gas discoveries in the northeastern part of Trinidad and Tobago’s maritime assets.  They have drilled a number of successful wells and some of them are quite close to the Barbadian border. 

“Because of that, both the governments of Barbados and Trinidad and Tobago saw it fit to do a Memorandum of Understanding for joint cooperation in the event that gas reserves are found on the Barbadian side that will lead to possibly the signing a Unitization Treaty between Trinidad and Tobago and Barbados in the not too distant future,” Khan said during a post-cabinet press briefing in Port of Spain.

In recent months BHP conducted a global endowment study in which it identified the deepwater off Trinidad and Tobago and its neighbours Barbados as having world-class potential with world-class source rock.

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