T&T and Venezuela have signed an agreement to work on the Dragon Gas Field.

According to government, a signing ceremony took place in Caracas where Venezuela President Nicolas Maduro called it a message of peace and shared sovereignty.

He noted that the agreement will allow the installation of pipelines with technologies to produce gas in Venezuelan seas.

This gas, he said, would be converted into wealth through the technologies managed by T&T.

According to a Bloomberg article, the agreement is a profit-sharing deal which could see increased global exports from the Caribbean.

Also at the signing ceremony were T&T Energy Minister Stuart Young and Venezuelan Vice-President Delcy Rodriguez and Petroleum Minister Pedro Rafael Tellechea.

(Photo credit: Stuart Young on Facebook)