Seismic Survey Set to Commence at Joint Venezuela-Trinidad Offshore Gas Fields

Seismic operations at the shared offshore gas fields between Venezuela and Trinidad and Tobago will start shortly. Venezuela granted a 20-year development license for the Cocuina field, and the U.S. approved the project. A 3D seismic survey is planned for the Manakin field next month, involving multiple vessels.

Seismic operations at the shared offshore gas fields between Venezuela and Trinidad and Tobago are scheduled to commence imminently, according to Trinidad's energy minister Stuart Young.

Venezuela issued a 20-year development license for its portion of the field in July. The U.S. granted authorization for the project earlier this year, to be carried out by BP and Trinidad's National Gas Company. The Cocuina and Manakin fields, part of the Plataforma Deltana project, boast 1 trillion cubic feet of proven gas reserves.

The vessel PXGEO2 and two support ships will perform a 3D seismic survey at the Manakin field next month, based on a marine advisory from BP. Despite Venezuela's rich gas reserves, development has been hampered by U.S. sanctions and investment challenges. Meanwhile, preparations for another offshore gas endeavor, the 4-tcf Dragon gas field project with Trinidad, are progressing towards a first output by late 2025.

(With inputs from agencies.)