Executives from China National Offshore Oil Corporation (CNOOC) this week met with Trinidad and Tobago’s Ministry of Energy and Energy Industries to discuss expanding the company’s presence in the country’s energy sector.
The meeting, held on Wednesday (November 13) at the Ministry’s Head Office in Port of Spain, brought together Energy Minister Dr. Roodal Moonilal, Minister in the Ministry Ernesto Kesar and senior officials with CNOOC International Chairman Liu Yongjie and his team, the Trinidad Energy Ministry announced on Thursday.
CNOOC is part of the ExxonMobil-led consortium developing Guyana’s Stabroek Block, where it holds a 25% working interest in the deep-water field that contains an estimated 11 billion barrels of recoverable resources. The company also holds a 12.5% stake in Trinidad’s Block 2(c) project through its subsidiary, Chaoyang Petroleum Ltd.
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The visit follows ExxonMobil’s return to Trinidad’s energy landscape through its participation in the ultra-deep offshore block awarded earlier this year, signaling renewed international interest in the twin-island nation’s upstream potential.
During the discussions, CNOOC executives expressed strong interest in increasing investment and operational activity in Trinidad and Tobago. Minister Moonilal welcomed the engagement, noting that it “comes at a time when the Government is committed to revitalising the energy sector”.
According to the ministry, both sides agreed the talks represented the start of a long-term working relationship aimed at advancing exploration and development opportunities in the country’s deep-water acreage.
CNOOC, China’s third-largest national oil company and the world’s second-largest liquefied natural gas trader, has operations across six continents and interests in multiple deep-water projects in Guyana, Nigeria and Brazil.
