The energy chambers of Venezuela and Trinidad and Tobago have signed a letter of intent (LOI) to boost institutional cooperation and integrate their hydrocarbon sectors, the organizations announced during an industry summit in Caracas.
Álvaro Pérez Díaz, President of the Venezuelan Petroleum Chamber (La Cámara Petrolera de Venezuela (CPV), and Dr. Priya Marajh, President and CEO of The Energy Chamber of Trinidad and Tobago, signed the agreement at the Venezuela International Oil & Gas Summit (VIOGS).
The LOI establishes a general framework for knowledge exchange, mutual support, and the strengthening of bilateral industry channels between the two nations. Under the agreement, the organizations will develop joint industry events, technical workshops, and targeted information-sharing programs.
The agreement stems from a shared interest in supporting the development of the oil and gas sectors in both countries, the chambers noted.
For the CPV, the partnership aligns with its mandate to represent the hydrocarbon goods and services sector. The chamber stated that the agreement will help promote cooperation among industry associations, strengthen its member companies, and generate new business opportunities within the Venezuelan oil industry.