Dr. The Honourable Roodal Moonilal, Minister of Energy and Energy Industries and the Honourable Ernesto Kesar, Minister in the Ministry of Energy and Energy Industries along with senior members of the Minister, met separately with executives from natural gas producers, Touchstone Exploration and DeNovo.
At the meeting with Touchstone, the representatives highlighted the company’s journey that was initiated with the successful award of an Exploration and Production Licence for the Ortoire Block, in the 2013 Onshore Bid Round. Since the award, first gas was produced in 2022 from Coho-1 and success continued in 2023 with first gas from Cascadura. Touchstone’s CEO emphasized the company’s growth and attributed its success thus far to local partnerships that contributed to the development of onshore gas processing facilities.
Dr. The Honourable Roodal Moonilal elaborated on the Government’s strategic approach to engagement with the energy sector, emphasizing the adherence to the Honourable Prime Minister’s principles of supporting the sector through enabling policies and remaining actively engaged and accessible.
Honourable Minister Kesar, recognized the efforts being made by the company to increase production and encouraged Touchstone to continue with the active pursuit of these potential resources. Minister Kesar also congratulated Touchstone on its localized approach to social responsibility and governance.
At the meeting with DeNovo, company executives thanked the Ministry of Energy and Energy Industries for its continuous support and emphasized its commitment to further exploration and production within the marine environment. In this regard, the company continues to assess the feasibility of prospects, with a view to pursuing viable projects.
Honourable Minister Moonilal thanked DeNovo for its ongoing commitment and provided assurance that the Government stands ready to evaluate and support measures to feasibly increase production. Minister Moonilal recognized that whilst Trinidad and Tobago has a rich history of exploration and production, that extends to over a century, it is widely acknowledged that the region is a mature hydrocarbon province. Notwithstanding, this maturity does not eliminate the possibility of future basin-wide exploration; instead, it should be viewed as a strength which can shape the strategies utilized in the exploration process. In this regard, this Government is committed to aggressively pursuing opportunities for expansion and investment.
Minister Kesar encouraged DeNovo to continue its assessment of marine acreage with the recognition that exploration can be pursued with a level of local partnership that can enhance these endeavors.
In both instances, the Ministry of Energy and Energy Industries indicated their commitment to continuing to work together to ensure the maximized production of our natural resources for the benefit of the citizens of Trinidad and Tobago.