Curtis Williams
OGJ Correspondent
PORT OF SPAIN, July 25 -- Venezuela and Trinidad and Tobago reported they are nearing an agreement to jointly develop more than 10 tcf of natural gas in unitized fields lying in cross-border reserves (OGJ, Aug. 18, 2003, p. 33). The countries' steering committees are finalizing such issues as taxation and initial production timetables.
A final report of the Loran-Manatee technical working group indicated 5 tcf of gas in place in Loran-Manatee field, with respective allocations being 73% to Venezuela (Loran field) and 27% to Trinidad and Tobago (Manatee).
Chevron Corp. operates Loran field for Venezuela, and British Gas Group is in partnership with Chevron on Trinidad and Tobago's Manatee portion of the field.
The Kapok-Dorado technical working group is examining data on Kapok-Dorado field that was recently exchanged by the two countries. Sources say the size of Kapok-Dorado is 5.5 tcf, most of which is on the Trinidad and Tobago (Kapok) side.
