TRINIDAD & TOBAFO: MAJOR OIL, GAS CONTRACT.

The Government on February 4 signed a major oil and gas exploration contract with two international companies, Trinidad Shell Exploration Production B.V and Agip Trinidad and Tobago Exploration B.V. The production sharing contract is for oil and gas exploration in Block 25 A, 80 kilometers off the east coast. The area awarded covers 1,388 square kilometers and is in water depth up to 1,300 meters. Shell (60% share) and Agip (40% share) plan to invest US$48.4 million for the first exploration period in order to perform geological activities, acquire seismic data and drill …