Two international energy companies have expressed interest in exploring investment opportunities in Trinidad and Tobago’s oil and gas sector, according to Minister of Energy and Energy Industries Dr Roodal Moonilal.

During his contribution to the Mid-Year Budget Review debate on June 15, Moonilal said he is expected to meet with representatives from French energy giant TotalEnergies and Malaysian multinational Petronas in the coming days.

“They are two global giants in this field and in a few days we will meet to have some discussions as well,” Moonilal said.

Petronas, headquartered in Kuala Lumpur, Malaysia, is one of the world’s largest state-owned energy companies and operates in more than 100 countries.

TotalEnergies, based in France, is one of the world’s major oil and gas companies. 

The company previously had operations in Trinidad and Tobago before exiting the market in 2013, when it transferred its upstream assets to The National Gas Company of Trinidad and Tobago through the sale of Total E&P Trinidad BV and Elf Exploration Trinidad BV.

Moonilal also highlighted ongoing discussions with US-based energy company Occidental Petroleum (Oxy), which recently partnered with ExxonMobil to acquire an interest in Trinidad and Tobago’s Ultra Deepwater 1 (TTUD-1) project.

He said Oxy has since indicated interest in pursuing further opportunities, including developments in the South West Marine area.

“Recently you saw Oxy here. I am happy to announce as well that coming out of their visit here and talking to the Prime Minister a few weeks ago, they have now expressed interest in the development of the South West Marine area. And those discussions will continue,” he said.

Moonilal said the increased interest from international energy players reflects continued confidence in Trinidad and Tobago’s energy sector and its potential for future investment.