Overview

• The 2,700-square-mile offshore block off Trinidad’s east coast spans depths over 2,000 feet and could involve up to $21.7 billion in development costs
• ExxonMobil pledged to start a seismic survey within six months and to drill two initial wells pending survey results
• Vice President John Ardill warned there are no guarantees of discovery despite comparing the area’s potential to Guyana’s deep-water boom
• Prime Minister Kamla Persad-Bissessar said the deal provides added energy security under strict government oversight and environmental guardrails
• The pact follows the collapse of a planned Trinidad–Venezuela partnership after the U.S. revoked two OFAC licenses, highlighting sanctions’ sway over regional energy collaborations