ExxonMobil Seeks Exploration Rights for Seven Deepwater Blocks, Trinidad and Tobago

ExxonMobil is in negotiations with the Government of Trinidad and Tobago to explore for oil and gas in up to seven deepwater blocks off the country's east coast, marking a potential return after exiting the region in 2003 following unsuccessful exploration. These blocks lie north of Exxon's prolific Stabroek block in Guyana, where Exxon and partners have discovered over 11 billion barrels of recoverable resources and plan to produce nearly 900,000 barrels per day later this year. Trinidad and Tobago, under Prime Minister Kamla Persad-Bissessar, is seeking to attract new offshore investments to boost its gas production for LNG and petrochemical industries. While a competitive deepwater auction is underway and extended to September 17, the blocks Exxon is interested in are not part of this auction, allowing the government to negotiate terms directly. Energy Minister Roodlal Moonilal confirmed ongoing discussions with major oil companies but did not disclose names, and Exxon declined to comment on speculation. The renewed interest in Trinidad's offshore sector is partly driven by the success of nearby Guyana's oil production growth and the government's efforts to deepen regional energy ties.