Energy Minister Stuart Young. File photo/Ayanna Kinsale
ENERGY Minister Stuart Young met with officials of EOG Resources Trinidad on Friday.
A statement issued by the ministry said the meeting took place at its offices at Tower C of the Port of Spain International Waterfront Centre.
The company provided Young with a detailed update on its ongoing and planned drilling projects and production forecasts.
Under its EOG’s robust two year drilling plan, the ministry said approximately 20 wells are projected to be drilled the period of 2023-2025.
To facilitate this, the Valaris 249-Gorilla VII platform is currently being shipped from New Zealand to TT.
It is expected to arrive on June 9.
EOG thanked the ministry forr its innovation and initiatives in facilitating and negotiating terms for the development of smaller fields that would bring higher volumes of natural gas to the energy market.
The company praised the Government’s willingness to have commercial discussions on the monetization of marginal fields and highlighted that TT remains an attractive territory for hydrocarbon investments.
Young provided feedback on EOG’s production portfolio.
He positively recognized the company’s efforts on the use of local content and the use of new technology for improved seismic images.
The ministry and EOG agreed to maintain dialogue while working together in a way that is fair and mutually beneficial, against the background of present global trends and market factors.
EOG’s team was led by company vice president and general manager J, Pat Woods.
Ministry permanent secretary Penelope Bradshaw-Niles also participated in the meeting.
Young returned to TT from Washington DC on Wednesday.
While in Washington, on Monday and Tuesday, he joined the Prime Minister in holding discussions with top US government officials and members of Congress about energy security for TT, Caricom and the Americas.