Guacamaya, July 29, 2025. The government of Kamla Persad-Bissessar has abandoned its agreement with PDVSA for gas from the Dragon and Cocuina-Manakin fields and is now betting on energy alliances in the Caribbean and with Guyana, as ExxonMobil negotiates to explore deep waters off its coast.
The Prime Minister of Trinidad and Tobago, Kamla Persad-Bissessar, confirmed the definitive termination of the agreement with Petróleos de Venezuela (PDVSA) to import natural gas from the Dragon and Cocuina-Manakin fields. Her administration has opted for a strategic shift, prioritizing energy cooperation with Guyana, Suriname, and Grenada.
Energy Minister Roodal Moonilal distanced himself from the policy of his predecessor, Stuart Young, ruling out any further efforts with the U.S. Office of Foreign Assets Control (OFAC) to revive the project with Venezuela. “It has become very clear that we will have a strengthened alliance between the United States, Trinidad and Tobago, and other Caricom actors,” he stated, emphasizing that the priority will be accessing the oil and gas resources of neighboring countries.
This change in direction could influence Trinidad and Tobago’s stance on the Essequibo dispute, as Persad-Bissessar has expressed support for Guyana and the decision of the International Court of Justice (ICJ), which could strain relations with Nicolás Maduro’s government.
Meanwhile, ExxonMobil has begun talks with the Trinidadian government to explore oil and gas in up to seven deepwater blocks east of the country—a return to territory the U.S. oil company had abandoned over two decades ago. These areas are located north of Venezuela and Guyana’s Stabroek Block, where Exxon and its partners Hess and CNOOC have discovered over 11 billion barrels of recoverable oil and gas, with plans to produce 900,000 barrels per day of light crude by the end of this year.
Moonilal confirmed that Trinidad and Tobago is also in discussions with other major industry players. “We are in talks with key stakeholders to boost exploration and production, both within and outside bidding rounds,” he said.
