T&T
and Venezuela to share gas field
By Richard Charan
South Bureau
Trinidad Express
Port
Spain
Petroleumworldtt.com
02 25 07
After four years of negotiations, Venezuela and
Trinidad and Tobago have agreed to share the natural
gas reserves in the Platforma Deltana gas field
which underlies the maritime border between the
countries.
About
three-quarters of the natural gas in the Loran field,
off Trinidad's southeast coast, will go to Venezuela,
a Reuters news report said yesterday.
The
Loran Field is part of the Platforma Deltana, which
is believed to bottle an estimated ten trillion
cubic feet of natural gas, about 7.3 trillion of
which will go to Venezuela.
Talks
between the countries began in 2003 when they agreed
to work to explore and exploit the gas fields, after
a decision was made on how the riches would be divided,
regardless of which side of the border the drilling
began.
It
was also reported that the binational committee
determined that the Dragon gas field, located in
waters north of Venezuela, was not linked to nearby
gas Hibiscus and Chaconia fields in Trinidad waters
and therefore not part of the unitisation process.
Trinidad
Express
Monday, February 19th 2007
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©2007 Trinidad Express. All Rights Reserved.
