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In June, the Government established a Cabinet-appointed multi-sectoral committee to develop a five-year action plan for the use of energy in all sectors of Trinidad and Tobago. The committee has completed its work and has handed in its report to the Minister of Public Utilities, Sen. the Hon. Robert Le Hunte.
Hess announced yet another discovery at the Tripletail-1 well on the Stabroek Block offshore Guyana. This discovery is the 14th made by Exxon and partner Hess.
SBM Offshore and ExxonMobil signed a Long-Term Agreement covering potential future FPSO orders. This agreement is non-exclusive and establishes the general legal framework and specific terms in relation to the engineering, procurement, construction and installation work regarding potential future contracts relating to leased FPSOs, which includes Build-Operate-Transfer projects that generally cover a short lease term.
Tullow confirms second discovery and has announced that the Joe-1 exploration well has successfully opened a new Upper Tertiary oil play in the Guyana basin.
The company stated in a press release that a binding conditional agreement was signed with LandOcean for the sale of Range Resources Trinidad in exchange for offsetting all outstanding debt due from Range to LandOcean (currently estimated at US$91 million) and cash consideration payable to Range of US$2.5 million.
The Energy Chamber is liaising with CARICHAM, the Caribbean regional network of Chambers of Commerce, who are the official private-sector representatives on CDEMA, the official CARICOM coordinating mechanism. Through CARICHAM we are in touch with the Bahamas Chamber of Commerce, who has established a GoFundMe page to collect donations.
Heritage Petroleum confirms that Arlene Chow has been appointed as the interim CEO Heritage Petroleum Company Limited pending the recruitment of a permanent CEO to replace Mike Wylie.
The Department of Energy in Guyana (DoE) has announced that the government will set up a Local Content Compliance Unit which, according to Dr. Mark Bynoe, will help validate information from the operators.
Fernando Zúñiga, Executive Director, said: “Being able to distribute the first dividend only nine months after the IPO represents a huge success for the Company. The dividend corresponds to 8.9% on share capital and exceed our initial projections in the IPO prospectus substantially. This places MPC Caribbean Clean Energy Ltd. among the top dividend-paying stocks on the Jamaica and the Trinidad and Tobago stock exchanges.
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Weeks after the discovery at Jethro Lobe, Tullow and its partners have begun drilling the Joe prospect offshore Guyana.
The Liza Destiny, the first FPSO (floating production, storage and offloading) vessel for the Liza Development in Guyana, is reported to be in Atlantic waters and is expected to arrive within days.
The Office of the Prime Minister announced the signing of a MOU between the government of Trinidad and Tobago and Barbados. The signing took place on Saturday 24th August, 2019 in Barbados.
The Energy Chamber of Trinidad & Tobago is relieved to learn that the “contempt of court” case against the Trinidad & Tobago Chamber of Industry and Commerce, Gabrielle Faria, Frank Mouttet and Derek Ali has been dropped by the Industrial Court.
