Venezuela signs 7 energy cooperation agreements with Trinidad and Tobago

This Wednesday, seven energy cooperation agreements were signed between Venezuela and Trinidad and Tobago, with the purpose of developing the resources of the Cocuina del Delta platform.

The signed documents include Exploration and Exploitation Licenses for Non-Associated Gaseous Hydrocarbons for the Cocuina Field of the Deltana Platform of Venezuela.

During the signing ceremony, President Nicolás Maduro pointed out that monumental steps continue to be taken to consolidate a relationship of good neighborliness and brotherhood between both nations, and that these agreements are signed within the framework of respect for sovereignty.

He indicated that “we are people of our word” and invited investors from the United States, Europe, China, Russia, among other countries, to come to the country, to “come on time, many have already arrived.”

“There have been many intrigues to make us hate each other, mistreat each other, and the feelings of brotherhood have always triumphed, and as today, it is the diplomacy of the new world, it cannot be that of gunboats or threats,” he noted while He noted that “no one gets involved in the internal affairs of each country.”

“A multipolar world is emerging with new powers that do not have colonial projects,” added Maduro, who said that diplomacy of peace, cooperation and development is triumphing.

He indicated that he is the only one who guarantees security for all oil and gas projects. “I am a man of my word, I play with my cards on the table and I defend the interests of Venezuela, like everyone has to defend the interests of their country. If you want to come to invest, come on time, many have already arrived, some we cannot say because we have signed them within the framework of special regimes to protect them,” he explained.

Venezuela is moving forward

“We have learned to get ahead with our own formulas in the midst of the most savage aggression that can be done against a country, 930 sanctions against the economic apparatus (…) They made us lose 99 percent of our income, in one year 56 thousand entered. million dollars and the other 700 million dollars and no social program was canceled,” he said.

“We are moving forward and we had to remake ourselves and reinvent ourselves. “We reengineered our brain and our schemes and took up negotiations with Trinidad and Tobago,” she said.

Maduro pointed out that a formula of his own was sought, where the economic projects that have an important impact on the economy of both nations, due to the income they are expected to have, would be viable within the framework of sovereign, independent, friendly and good-neighborly relations. .

“We are on the right side of history, the new world that is emerging belongs to us,” he added.

For the Head of State there is no doubt that the 21st century is that of the emerging world, where differences are overcome through dialogue and diplomacy.

“Look for business opportunities based on the towns,” he pointed out, “these historical documents that are being signed will allow the development of the Cocuina field on the Venezuelan delta platform and are an example for the entire world. How many wars have there been over gas and oil in the world. “It is a model,” said the first national leader.

He reiterated that the national government is willing to negotiate for sovereign agreements and the development of oil and gas resources.

He congratulated the British Petroleum company, since a great agreement was reached taking into account the experience they have in the world. “I believe that integrating the experiences of the Trinidad and Tobago gas company, of British Petroleum, of PDVSA, should give high-quality results and as fast as these documents that we are signing,” she stressed.

Benefits for the people

“There will be benefits for both peoples,” highlighted the Prime Minister of Trinidad and Tobago, Stuart Richard Young, who was the signatory of the agreements on behalf of his country.

”Today is a historic and monumental day for the people of Venezuela and Trinidad and Tobago, it would not have been possible without your blessing, President, we are very grateful (…) this could not have happened without the efforts of your team, as well as the team of Trinidad and Tobago. Mr. President, I congratulate you and thank you. “Once again we have shown the world that what is right happens when two countries work together in difficult times,” Young said.

He went on to say that on behalf of Trinidad and Tobago, he will guarantee to both people that there will be benefits for both people.

In detail

The head of state referred to the signed agreements as a solid legal basis.

Both countries signed the Approval Act Concerning the Functional and Governance Structure for the Operation of the Manakin-Cocuina Field Area Unit. Signed by the Minister of Popular Power of Petroleum, Pedro Tellechea; for Venezuela; and the Minister of Energy and Energy Industries for the Republic of Trinidad and Tobago, Stuart Young.

The Agreement on the Implementation Periods of the Manakin-Cocuina Area Unit was also signed.

Likewise, the Authorization Agreement for the Fiscal Measurement of the Production of the Cocuina Field of the Deltana Platform between the Bolivarian Republic of Venezuela and the Republic of Trinidad and Tobago.

Likewise, the License for the Exploration and Exploitation of Non-Associated Gaseous Hydrocarbons in the Cocuina Field of the Deltana Platform.

In that same sense, the Assumption of Obligations by the Licensees was signed, within the framework of the granting of the License for the Exploration and Exploitation of Non-Associated Gaseous Hydrocarbons in the Cocuina Field of the Deltana Platform. Signed were the director of the NGC Exploration and Production Limited Company, Verlier Quan-Vie; and David Campbell, director of BP Exploration (Caribbean) Limited.

Seventhly, the Base Term Sheet on Volumetric Distribution and Prices Applicable to Gas Sales Contracts for the Cocuina Field of the Deltana Platform, which the Licensees NGC Exploration and Production Limited, Verlier Quan-Vie; and David Campbell, director of the Company BP Exploration (Caribbean) Limited, will sign with their buyers from the Republic of Trinidad and Tobago. Signing for Venezuela, the Minister of Popular Power of Petroleum, Pedro Tellechea; and for the Licensees, the director of the Company NGC Exploration and Production Limited, Verlier Quan-Vie; and David Campbell, director of BP Exploration (Caribbean) Limited.

News in development …