NGC awarded 20% participating interest in Rio Claro Block

NGC release

The National Gas Company of Trinidad and Tobago Limited (NGC), through its subsidiary, NGC E&P Investments Limited, signed an Exploration and Production (E&P) License with the Ministry of Energy and Energy Industries (MEEI) for a 20% non-operating participating interest in the onshore Rio Claro block. Primera Oil and Gas Limited (a wholly owned subsidiary of Touchstone Exploration) will be the operator of the block, with 80% participating interest. The signing took place on Monday 4th November 2024, at the MEEI offices in Port-of-Spain.

This E&P License is the third to be granted by the MEEI to NGC to be the state-owned representative enterprise in the onshore block. The first two were signed in June 2024 for the Charuma and Cipero Blocks.

The award of a participating interest in this block aligns with NGC’s strategic objectives to proactively pursue opportunities that advance the development and monetisation of Trinidad and Tobago’s natural gas reserves, both onshore and offshore. NGC remains committed to collaborating closely with the operator in the exploitation of the country’s onshore acreage within this block, aiming to contribute to the stabilisation of the country’s gas supply and to support the sustainability of Trinidad and Tobago’s energy sector.

At the signing, NGC Group Chairman, Dr. Joseph Ishmael Khan, commented, “Today’s signing represents yet another step forward for NGC, as we continue to seek and seize opportunities to grow our portfolio and broaden the scope of our business activities. Our increasing participation at the top of the value chain indicates our intent to become more actively involved in the development of our nation’s energy reserves, for the ultimate benefit of Trinidad and Tobago.”

He also expressed his confidence that all stakeholders will work collaboratively to convert this opportunity into a productive outcome for the country.