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The Energy Chamber hosted its Post AGM Event: Building Guyana - T&T Private Sector Collaboration on October 24th 2025. The event featured a keynote address by Kathy Smith, President of the Georgetown Chamber of Commerce and Industry (GCCI) which was followed by a panel discussion with leaders from several energy services companies in T&T. The discussions focused on opportunities for collaboration and the removal of non-tariff barriers and alleviating port congestion issues.
DOF Group has secured contract extensions that will keep two subsea vessels at work in Guyana.
Over the past few weeks, we have highlighted the energy sector's contribution to the economy of Trinidad and Tobago (T&T). A vital area of this sector is the energy services subsector, which consists of the many local and foreign contractors that execute projects for the country's major operators.
The Energy Chamber of Trinidad and Tobago notes Nutrien’s announcement of a controlled shut-down of its operations at Point Lisas. Nutrien is a major investor and exporter of ammonia, and its presence is vital to the strength of our downstream energy sector.
The University of the West Indies has partnered with with Japanese company Niterra Co Ltd. and local company Kenesjay Green under the H2TT Transform Project to develop a green hydrogen center of excellence at UWI.
The global supply chain for oil and gas project procurement is entering a period of contrast, with significant easing expected in some areas—like drilling and vessels—while other critical segments, notably subsea equipment and gas-related infrastructure, remain severely constrained. Analysts anticipate a general improvement in the procurement of critical infrastructure and equipment starting in 2026, a shift largely driven by a temporary slowdown in overall project activity.
The energy sector is the major contributor to the government’s taxation revenue stream. Over time, the energy sector’s contribution as a percentage of the total has been falling due to declining production and volatility in international pricing. Nevertheless, the sector is the highest taxed sector in the T&T economy. In fact, operations of upstream companies result in over 30 different taxes, levies, and fees. The ones that are unique to the sector are the Petroleum Profit Tax (PPT), Supplemental Petroleum Tax (SPT), and Royalties. Companies engaged in upstream operations in Trinidad and Tobago (T&T) are subject to a special fiscal regime, principally governed by the Petroleum Taxes Act (PTA).
Staatsolie has announced that Chevron Suriname Exploration Limited will begin drilling this month on the exploration well, named Korikori-1. This well is located approximately 78 kilometers offshore, in the northern part of Block 5, at a water depth of approximately 40 meters. Block 5 is operated by Chevron (40%) in partnership with Paradise Oil Company (40%) and Qatar Energy (20%).
The Attorney General of Trinidad and Tobago, John Jeremie, has announced that the Department of the Treasury of the U.S. has granted the OFAC license to pursue the exploration of the Dragon gas field in Venezuela.
Over the last 20 years, the revenue received by the central government from the energy sector has seen significant annual fluctuations. The general pattern has been that revenue received over the last 10 years (147 billion dollars) has been considerably less than the revenue received during the previous decade (236 billion dollars).
Petroperú has launched two strategic processes to hire a company specializing in the Comprehensive Transformation of Petroperú SA and to conduct a Forensic Analysis of the New Talara Refinery.
The International Maritime Organization (IMO) has set forth a Net-Zero Shipping Framework (NZF) with the intention of reducing emissions in the maritime sector. It was approved in April 2025 and is set for adoption in October 2025, pending a vote which will take place during the Marine Environmental Protection Committee meeting from October 14th – 17th.
The Energy Chamber has long been a dedicated supporter of the Ocean Conservancy’s International Coastal Cleanup. For the past decade, we've collaborated with our member companies and various NGOs to clean up beaches at Carli Bay in Couva, Vessigny Beach in La Brea and Quinam Beach, on the coast due south of Siparia. Over time, we've focused more of our efforts on Quinam Beach, which remains a beautiful southern Trinidadian gem, despite the significant trash accumulation it faces.
Proman has announced that its upstream company DeNovo Energy Limited, is now Proman Energy Limited. The rebrand reflects the integral role of the upstream business within Proman’s operations and ensures greater alignment and visibility across our integrated value chain.
ExxonMobil has made a final investment decision for the Hammerhead development offshore Guyana, after receiving the required regulatory approvals. Hammerhead, the seventh project on the Stabroek block, is anticipated to come online in 2029.
The Energy Chamber of Trinidad & Tobago warmly welcomes the announcement from the Honourable Kamla Persad Bissessar, Prime Minster of Trinidad & Tobago, that the Government of the United States intends to issue new OFAC licenses to allow discussions to continue with Venezuela, for the development of cross-border hydrocarbon resources.
BLISS has opened its 6th Safety Store and 2nd The Boot Store at Atlantic Plaza, Point Lisas. The company said that this one-stop source for PPE and safety footwear will serve Trinidad and Tobago’s industrial estate, supporting downstream operators, contractors, on-site teams, and DIY enthusiasts in the area.
Saipem has received authorization from ExxonMobil to proceed with the execution of the activities provided for the engineering, procurement, construction and installation (EPCI) offshore contract for the development project of the Hammerhead oil field, located in the Stabroek block off Guyana at a depth of approximately 1,000 meters. The contract value is approximately 500 million USD.
TechnipFMC has been awarded a substantial contract by ExxonMobil Guyana Limited to supply subsea production systems for the Hammerhead development in Guyana’s Stabroek Block.
Ramps Logistics has been shortlisted for the 2025 Breakbulk Awards, marking the first time a technology created in the Caribbean has been recognized at this world stage.
