By Sue-Ann Wayow

GOVERNMENT is working to ensure that Trinidad and Tobago re-emerge as the energy hub of the Caribbean.

This was the commitment given to Touchstone Exploration Ltd by Energy Minister Dr Roodal Moonilal.

Dr Moonilal, along with Minister in the Energy Ministry Ernesto Kesar, met with a team from Touchstone on Wednesday at the ministry’s office at the International Waterfront Complex in Port of Spain.

The Touchstone delegation included President and Chief Executive Officer Paul Baay, Chief Financial Officer Scott Budau, Director Dr Priya Maharaj, and Exploration Manager Xavier Moonan.

A media release from the Energy Ministry stated that at the introductory meeting, Touchstone highlighted the company’s journey that was initiated with the successful award of an exploration and production licence for the Ortoire Block, in the 2013 onshore bid round.

Since the award, first gas was produced in 2022 from Coho-1 and success continued in 2023 with first gas from Cascadura.

Touchstone’s CEO emphasised the company’s growth and attributed its success so far to local partnerships that contributed to the development of onshore gas processing facilities.

Dr Moonilal elaborated on government’s strategic approach to engagement with the energy sector, emphasising the adherence to Prime Minister Kamla Persad-Bissessar  principles of supporting the sector through enabling policies and remaining actively engaged and accessible.

He also focused on the government’s goal of ensuring that Trinidad and Tobago re-emerges as the energy hub of the region through the pursuit of the enhancement of “our legacy infrastructure and further value creation through investment in our energy sector,” the release stated.

Dr Moonilal  thanked Touchstone for its key role in onshore gas development and provided reassurance of the government’s commitment to remaining accessible and promoting the ease of doing business within the energy sector.

Kesar, recognised the efforts being made by the company to increase production and encouraged Touchstone to continue with the active pursuit of these potential resources. He also congratulated Touchstone on its localised approach to social responsibility and governance.

The ministers also met with DeNovo on Wednesday.

They met with DeNovo’s Chief Executive Officer Brian Ramsumair and  Chief Financial Officer Chief Financial Officer Kris Sookdeo.

 At the introductory meeting, DeNovo’s executives thanked the ministry for its continuous support and emphasised its commitment to further exploration and production within the marine environment.

The company continues to assess the feasibility of prospects with a view to pursue viable projects, a subsequent release from the ministry stated.

Dr Moonilal thanked DeNovo for its ongoing commitment and provided assurance that the government was ready to evaluate and support measures to feasibly increase production.

The release stated, “Minister Moonilal recognised that whilst Trinidad and Tobago has a rich history of exploration and production, that extends to over a century, it is widely acknowledged that the region is a mature hydrocarbon province.

“Notwithstanding, this maturity does not eliminate the possibility of future basin-wide exploration; instead, it should be viewed as a strength which can shape the strategies utilised in the exploration process. In this regard, this Government is committed to aggressively pursuing opportunities for expansion and investment.”

 Kesar encouraged DeNovo to continue its assessment of marine acreage with the recognition that exploration can be pursued with a level of local partnership that can enhance those endeavors.