The Cabinet of Trinidad and Tobago has approved the award of production-sharing contracts for offshore Blocks 24 and 25 to the China National Offshore Oil Corporation (CNOOC).
Minister of Energy Dr. Roodal Moonilal announced that the decision follows a competitive bid round for the acreage, which is located approximately 45 to 50 miles off Trinidad’s north coast. The move is part of a broader strategy to arrest a decade-long decline in domestic natural gas production.
According to Dr. Moonilal, Cabinet’s approval means the Government will now move into the next phase of negotiations with the company before finalising the production sharing contracts.
In addition to the CNOOC award, the government reported progress on the Dragon gas project. Shell has signed a framework agreement with the Venezuelan government to establish the regulatory and commercial structure for the field. If schedules hold, first gas from the Dragon project is projected for the second or third quarter of 2027. This project is one of several cross-border initiatives, including the Cocuina-Manakin and Loran-Manatee fields, though the Minister emphasized that 11 other domestic projects are also under simultaneous development.