Unitisation
talks close to agreement
The
Trinidad Guardian
Port
Spain
Petroleumworld.com 07 23 06
The
unitisation talks that aim to share any hydrocarbon
reserves that straddle the maritime boundary between
T&T and Venezuela are one step closer to agreement,
according to a statement from the Foreign Minister
yesterday.
At
the seventh ordinary meeting of the steering committee
on the unitisation of cross-border hyrdrocarbon
reservoirs, which was held recently in Port of Spain,
significant advances were made in the drafting and
examination of particular provisions of a draft
framework unitisation treaty.
The
treaty, which is to be signed by both countries,
is being considered by the respective energy ministers
and will also include a provision on local content.
The
document before the energy ministers also contains
the final report of the Loran/Manatee technical
working group, which determined the volume of gas
in place in the Loran/Manatee field and the respective
allocations to Trinidad and Tobago and Venezuela.
The
Kapok/Dorado technical working group is presently
examining data on the Kapok/Dorado field that was
recently exchanged by the two countries.
The
unitisation initiatives is an important element
in the maximisation of the value of the hydrocarbons,
according to the Foreign Ministry statement.
The
Trinidad Guardian
Wednesday 19th July, 2006
Copyright
©2006 Trinidad Guardian All Rights Reserved.
