As ExxonMobil completes its seismic survey of offshore Block TTUD-1, the company has reported investing more than US$4.5 million in T&T during its first year of exploration.
According to the Energy Chamber, ExxonMobil paid US$3.66 million to the Ministry of Energy and committed additional US$935,000 in funding for training, research and development.
The next phase of ExxonMobil’s exploration programme will focus on analysing the seismic data to identify potential drilling targets.
ExxonMobil operates the 7,165-square-kilometre TTUD-1 block off T&T’s east coast, with Occidental Petroleum holding a 10% interest.
