From Trinidad and Tobago, it is about one hour flying time south to Georgetown the capital of the Republic of Guyana and another hour flying south to Paramaribo the capital of Suriname. These two new emerging oil-rich deep-water provinces now have joined Trinidad and Venezuela which have been oil producers and exporters for 118 years.
ExxonMobil has found approximately nine billion barrels of oil equivalent resources offshore Guyana since 2015 and had its first oil lift in December 2019. There is no announced deepwater drilling in Trinidad following the failure of the BHP Broadside well to forecast commercial quantities.
But there is renewed activity onshore Trinidad where Canadian oil and gas company Touchstone Exploration experienced a windfall in 2020 as a result of its drilling and the signing of a five-year supply deal last December with the National Gas Company worth between US$1.6 and US$2.2 billion.
Touchstone Exploration Inc (LON:TXP) is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago.
