Venezuela
and Trinidad and Tobago sign
treaty on fields unitization and will form
hydrocarbons JV
The
Prime Minister of Trinidad and Tobago, Patrick Manning
( r ) and
The President of Venezuela, Hugo Chavez ( l ).
By Elio Ohep
Petroleumworld
CARACAS
Petroleumworld.com 03 25 07
The
president of Venezuela, Hugo Chavez and The Prime
Minister of Trinidad and Tobago, Patrick Manning,
signed on Tuesday, a Memorandum of Understanding
about the Procedures to the Hydrocarbon Wells Unification
and a Framework Treaty for the Hydrocarbon Wells
Unification and discuss various issues concerning
the formation of joint ventures to exploit together
the energy, oil and gas resources of both countries
The
unification agreements establish how is going to
be explored and exploited any well found at any
side of the borders.
The
heads of state held a private meeting, to discuss
a series of bilateral issues, among those a proposal
from the Prime Minister of Trinidad concerning the
integration of the two countries for the development
of the hydrocarbons resources, according to Manning
speech on Thursday at the BG Energy Luncheon and
that enclose the following points:
That
Loran-Manatee gas would be produced in Trinidad
due to the distance from Guiria (Mariscal Sucre
gas complex ) to make economic sense to Venezuela.
And Trinidad would supply Jamaica with LNG
with
the Venezuelan gas.
Trinidad and Venezuela and Brazil would collaborate
to build a 250,000 bpd refinery in Pointe-a-Pierre,
that would be fed the fuel oil from the old Pointe-a-Pierre
refinery.
Trinidad and Venezuela would sign agreements to
in exchanging energy services and co-operate
on human development and recruitment.
Manning explained to Chavez that Trinidad was committed
to FTAA and had expended tremendous resources in
lobbying for its headquarters to be in Trinidad
& Tobago.
Chavez
will go come to Port Spain in the next months to
sign a new set of agreements flowing out their meeting.
That Trinidad would be attending the Venezuela gas
forum meeting on April 17th, since no discussion
on trade in gas could proceed without Trinidad &
Tobago.
The
delegation of the Prime Minister of Trinidad and
Tobago was formed by the permanent secretary of
the Ministry of Energy and Energetic Industries,
Leroy Mayers; the Ambassador of the Republic of
Trinidad and Tobago to Venezuela, Razia Ali; the
director of the Public Affairs, Herbert Atwellk;
the director of the Caricom (Caribbean Community)
and Caribbean Affairs of the Ministry of Foreign
Affairs, Sandra Honoré.
Chavez
said in a speech during the signature of the agreements
that the presence of vast oil and gas wells, as
well as the great fishing resources, at the shared
continental platform, constitutes additional elements
that highlight the geo-strategic relevance of the
relations with this nation.
In
the energetic sector, Trinidad and Tobago has reached
a high development degree in the gas exploiting,
he added.
- Elio Ohep, editor@petroleumworld.com, 58 412 996
3730, caracas.
Petroleumworld
25 03 07
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