Seismic Work to Begin at Venezuela-Trinidad Offshore Gas Fields

Seismic work at offshore gas fields shared by Venezuela and Trinidad and Tobago is set to commence shortly. Venezuela has issued a 20-year development license for the Cocuina field, with British BP and Trinidad's NGC as operators. The fields have 1 trillion cubic feet of proven gas reserves.

Seismic work at the shared offshore gas fields between Venezuela and Trinidad and Tobago is poised to commence within the next few days, as announced by the Caribbean country's energy minister, Stuart Young, via social media on Friday.

In July, Venezuela granted a 20-year license to develop its portion of the gas reservoir known as the Cocuina field. Earlier this year, the U.S. had also given its authorization for the project, which will be operated jointly by British BP and Trinidad's National Gas Company (NGC).

The Cocuina and Manakin fields, which include Venezuela's segment of the dormant Plataforma Deltana gas offshore project, are estimated to contain 1 trillion cubic feet of proven gas reserves.

(With inputs from agencies.)