Exxon Cleared to Hunt for Oil

By STEVON JAGGASAR

Clearance has been given to conduct three-dimen­sional surveys. On De­cember 28th, the Environmental Management Authority (EMA) granted ExxonMobil the neces­sary approvals to proceed with ultra-deep-water exploration under the Energy Ministry’s TTUD-1 initiative.

With permission now secured to conduct three-dimensional seismic surveys, Trinidad and Tobago has taken a decisive and long-overdue step toward reclaiming momen­tum in its energy sector.
For those who may have lost track amid the political obstruc­tion, headlines of Penny running away from parliament to eat a dou­bles, and the cacophony of threats from abroad, this situation is actu­ally quite easy to break down.
Geological and exploratory data have long pointed to the possibil­ity of substantial hydrocarbon reserves along Trinidad’s eastern offshore frontier in an area now formally designated TTUD-1.
Hydrocarbons come in many shapes and names but most impor­tant to this conversation is its form as natural oil and gas.
It is the substance we pave our roads with, the fuel in our vehicles, what we barrel and sell; hydrocar­bons are possibly the most valu­able substance to our economy. And we stand now, looking at the potential of a massive reserve of it in our waters.
Almost immediately follow­ing the general election, Minister of Energy and Energy Industries, Roodal Moonilal made it clear that he will not be yet another Energy minister who comes into office and whines about a bleak future.
Really, this move is a signal that Trinidad and Tobago would no longer allow opportunity to be suf­focated by indecision, bureaucrat­ic paralysis, or political timidity.
His objective, and by extension, the objective of this UNC govern­ment is: fully explore the ultra-deepwater frontier and do so with speed, competence, and interna­tional credibility so as to diversify sources of income and eradicate our reliance on foreign entities when it comes to oil and gas. The party is to usher in another golden era for the nation.
Clearly the lack of action by the Rowley Regime over the past 10 years had more to do with political will (or the lack of it) and less to do with the reality of the situation.
That deficit has now been ad­dressed.
There’s also a conversation to be had around the engagement of ExxonMobil in particular. The se­lection of one of the world’s most experienced and technically ca­pable deepwater operators was not accidental.
It was the result of deliberate strategy and sustained engage­ment, reflecting the importance of this situation. Estimates have the potential investment benefit alone totally in the tens of billions of USD for Trinidad and Tobago.
That, paired with the signifi­cance of not relying on Venezu­ela’s Dragon Gas and more in­dependence from certain trade partners who hike up barrel costs, a successful operation is vital. Only the most capable of organi­sations can be trusted to conduct this project and if that organisation happens to be ExxonMobil, an entity that has already buttressed Guyana’s economic growth, then so be it.
All of this fly in the face of the previous Rowley Regime, under which the energy sector drifted without clear direction.
For years, announcements were made, committees were formed, and “reviews” were promised yet nothing happened, investor con­fidence waned, and deep-water exploration went without even a mention.
Opportunities languished while red tape was tolerated, even de­fended, as a convenient shield for inaction.
This UNC government has taken the opposite approach. It has been forthright in acknowledging that excessive delays cost this country dearly, not in abstract terms, but in real dollars, lost jobs, and dimin­ished national capacity.
By insisting that regulatory agencies operate efficiently within their statutory mandates, it has demonstrated that environmental responsibility and economic ur­gency are not mutually exclusive.
You can even look at the EMA’s timely approval as proof of that balance. From studying the head­lines, it should be clear, the quick approval happened because the culture of delay and depreciation that had become entrenched under the previous administration has seemingly been eradicated. Ap­provals no longer need to take on a political life of their own.
Trinidad and Tobago has redis­covered its ability to execute. The approval is a vote of confidence in the government’s leadership and in the ministry’s capacity to navi­gate complex, high-stakes projects without drama or dithering.
Predictably, voices from the Op­position have begun to mutter. The same figures who presided over years of stagnation now question urgency.
The same administration that allowed energy output to decline now pretends to be the guardian of prudence. But history is not so eas­ily erased. While others perfected the art of press releases, Moonilal has delivered progress.
The commencement of three-di­mensional seismic surveys repre­sents the first tangible step toward potentially transformative discov­eries.
Should commercially viable re­serves be confirmed, the implica­tions for Trinidad and Tobago are profound.
Billions in long-term invest­ment, employment opportunities across multiple sectors, renewed confidence in the energy value chain, and fiscal breathing room for national development are all within reach. That this possibility is now closer to reality is a direct consequence of decisive leader­ship.
At a time when global compe­tition for energy capital is intense and unforgiving, passivity is not an option. Trinidad and Tobago cannot afford to relive the inertia of the past decade.
Under Roodal Moonilal, the country has chosen action over ex­cuses, competence over confusion, and leadership over drift.
Clearance has been granted. Momentum has been restored. And for the first time in years, Trinidad and Tobago’s energy fu­ture appears to be moving forward by design.