Energy

Shell agrees to pay $2.5 bn by 2019

T&T could earn as much as $10 bil­lion over the next nine years fol­low­ing the sign­ing of a deal be­tween Gov­ern­ment and Roy­al Dutch Shell.

The an­nounce­ment was made by En­er­gy Min­is­ter Franklin Khan who gave de­tails to the Par­lia­ment on Mon­day fol­low­ing more a year of ne­go­ti­a­tions. He re­vealed that Shell agreed to pay gov­ern­ment $2.5 bil­lion by the end of 2019, the mon­ey to be paid in US to the sum of US $397 mil­lion.

PM: Favourable terms for T&T

Prime Min­is­ter Dr Kei­th Row­ley has walked away from his two-week long trip to the US, Nether­lands and the UK with favourable terms for the coun­try’s en­er­gy sec­tor.

This is ac­cord­ing to a re­lease from his of­fice.

He met with Shell in The Hague, Nether­lands, BP in Lon­don and EOG Re­sources and BHP in Hous­ton, Unit­ed States.

EOG tells PM that T&T remains important part of its portfolio

Prime Minister Dr Keith Rowley on Tuesday met with Chairman and CEO of EOG Resources William Thomas at EOG Resources Heritage Plaza in Houston, Texas.

A statement by the Office of the Prime Minister said that EOG updated Dr Rowley and his delegation on their exploration and production initiatives since the prime minister’s last meeting with EOG in Houston in 2017.

The energy company is executing an aggressive drilling programme which will continue with the drilling of a number of wells over the next year and beyond.

New agreement with Shell to enhance LNG revenues

The government has signed a new energy agreement between with Shell at the energy company’s headquarters in The Hague, Netherlands.

The new agreement is being labeled "a significant milestone for the people of Trinidad and Tobago" as it features an enhanced revenue package for the sale of LNG.

"The energy deal is the result of months of positive and relationship-building discussions between Shell and the Government," a statement by the Office of the Prime Minister said.

PM flies out this weekend for energy meetings

Prime Minister Dr Keith Rowley will leave the country this Sunday for a series of meetings with energy companies that operate in Trinidad and Tobago.

The prime minister told today's post-Cabinet news conference that he will lead a government delegation for meetings that will take him out of the country for 10 days.

He will first go to Holland where he will meet with officials of Shell.

From Holland, the PM and team will journey to London for meetings with Bp officials.

He will also meet with nationals of Trinidad and Tobago in London.

Shell, BPTT bid for shallow offshore blocks

BPTT and Royal Dutch Shell are the only two bidders for three of the six shallow water blocks that were offered in T&T competitive bid round.

The joint bids were made for blocks 4 (c), U (c ) and lower reverse L.

All three are off the east coast of Trinidad where BPTT and Shell operate several other blocks.

No bids were made for blocks NCMA 2 and 3 that are west of Tobago and no bid for block 1 (c).

 We will have a further update later.

- Curtis Williams

PM: DPP will decide on A&V Drilling case

The same Di­rec­tor of Pub­lic Pros­e­cu­tions who “con­duct­ed his busi­ness” the way he did last week - with two UNC mem­bers- and al­so did it again yes­ter­day is the same DPP who has in­for­ma­tion con­cern­ing the A&V Drilling al­leged “fake oil” is­sue.

That was Prime Min­is­ter Kei­th Row­ley’s re­sponse to the Op­po­si­tion in Par­lia­ment yes­ter­day when he was grilled about why there was no foren­sic au­dit in­to the A&V Drilling/oil is­sue.

EOG prepares exploration & production schedule for T&T

EOG Resources has approved a prospective exploration and production schedule for Trinidad and Tobago for the next five years.

The company made the disclosure Prime Minister Dr Keith Rowley has met with a high-level delegation from EOG Resources.

Their plan includes the deployment of a number of wells for both production and further exploration which is based on their analysis of recent state-of-the-art seismic work. 

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