en.Wedoany.com Reported - Occidental (Oxy) has received approval from the government of Trinidad and Tobago to join U.S. energy giant ExxonMobil in an ultra-deepwater exploration block in the country.

After ExxonMobil returned to Trinidad and Tobago in August 2025 through a production sharing contract (PSC) for the TTUD-1 ultra-deepwater exploration block, the country's government gave the green light for Occidental to acquire an interest in the block.

Trinidad and Tobago Prime Minister Kamla Persad-Bissessar stated that the government's approval allows Occidental to obtain a 10% interest in the TTUD-1 block. ExxonMobil will continue as operator and retain a 90% stake.

Previously, the Prime Minister, along with Minister of Energy and Energy Industries Dr. Roodal Moonilal and Minister Ernesto Kesar, met on May 22, 2026, with Paul Riley, President of ExxonMobil Trinidad and Tobago Deepwater, Pedro Romero, Vice President of International Exploration at Occidental, and Gboyega Ayeni, Business Development Manager at ExxonMobil.

According to Trinidad and Tobago's Ministry of Energy and Energy Industries, the parties discussed ongoing projects in the country and near-term future investment opportunities. The Ministry emphasized that Occidental is an international energy company engaged in the production, marketing, and transportation of oil and gas, and advances low-carbon technologies by leveraging its global leadership in carbon management. The company is headquartered in Houston and primarily operates in the United States, the Middle East, and North Africa.

The Ministry noted that the courtesy visit by Occidental representatives with ExxonMobil highlights Trinidad and Tobago's ability to attract international energy investors and reflects confidence in its energy potential and long-term investment prospects.

Recently, Venezuela and Trinidad and Tobago held meetings on managing potential cross-border hydrocarbon spills, while also reporting an oil leak from the Main Soldado Field 2 riser platform in the Gulf of Paria. Both sides agreed to maintain information exchange as scientific work and technical investigations continue, reflecting their shared commitment to open communication and enhanced regional cooperation in addressing potential cross-border environmental incidents.

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