Prime Minister Kamla Persad-Bissessar will this afternoon sign a Production Sharing Contract with ExxonMobil Trinidad and Tobago Deepwater Ltd. for Block TTUD1 — marking the company’s return to local waters after more than two decades. The ceremony, hosted by the Ministry of Energy and Energy Industries, takes place from 1:30 p.m. to 2:30 p.m. at the Prime Minister’s Residence and Diplomatic Centre in Port of Spain.
Speaking at her Monday night forum in Couva, Persad-Bissessar said it would be the first time since 2003 that ExxonMobil has re-entered the country, this time to explore a newly defined ultra-deepwater zone known as UD-1 — about 2,000 to 3,000 metres deep and seven blocks off the east coast.
