Young holds energy talks in Venezuela

ENERGY Minister Stuart Young was in Venezuela on March 13 for discussions related to the development of the Manakin/Cocuina field, which straddles the Trinidad and Tobago-Venezuela maritime border, off the southeast coast of Trinidad.

In a statement issued by his ministry, Young said the parties met in Caracas to start engagement, discussions and negotiations related to the cross-border field.

The Manakin part of the field lies on the Trinidad and Tobago side of the maritime border and is estimated to have 1 trillion cubic feet (tcft) of natural gas.

Young added, "The presentations and discussions including the exchange of technical information and negotiation of legal terms and conditions advances the intended project of developing this hydrocarbon field."

Young said Government continues to work assiduously to secure Trinidad and Tobago's future.

His delegation included the ministry's Permanent Secretary Penelope Bradshaw-Niles, other key ministry personnel and executives from the National Gas Company (NGC). Other delegates at the meeting were a BP team led by bpTT president David Campbell.

The Venezuelan government was represented by a team led by Popular Power for Petroleum Minister Rafael Tellechea and his vice minister Juan Santana.