Page 9 - LatAmOil Week 46 2022

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The only four blocks to draw bids (Blocks 23B, 25A, 25B and 27) have been marked with black dots (Image: MEEI)

The company aims to deliver a sizeable portion blocks jointly with Shell (UK), which is also a
of its local gas production to the Atlantic LNG shareholder in Atlantic LNG. (Like BP, Shell
plant in Port Fortin, where it can be liquefied has stakes in all of the plant’s trains; however, its
and exported in the form of LNG. BP owns holdings are larger than those of Shell.)
equity stakes in all of Atlantic LNG’s production The BP/Shell alliance was the only party to
trains. submit any offers in Trinidad and Tobago’s deep-
It submitted offers for the four deepwater water bidding round. ™

VENEZUEL A
Sycar, PdVSA sign MoU on FLNG project

US-BASED Sycar reported last week that it
had signed a memorandum of understanding
(MoU) with Venezuela’s national oil company
(NoC) PdVSA on the development of an LNG
export project.
In a statement, Sycar explained that the MoU
provided for the parties to work together to
draw up plans for signing a long-term gas sup-
ply agreement (GSA). Once such an agreement
is in place, it said, PdVSA will be able to deliver
natural gas from Venezuela to a floating LNG
(FLNG) vessel operated by Sycar. The FLNG
unit will, in turn, be able to turn out LNG for
export to Europe or to the LNG regasification
facilities that Sycar is building in other Latin
American countries, it noted.
The company did not reveal the projected
cost of this project or say how much gas the
FLNG vessel would be able to handle. It did state,
though, that it had applied to the US Treasury
Department’s Office of Foreign Asset Control
(OFAC) for special permission to engage in the
gas project in Venezuela without being subject The FLNG would be installed at CJAA, an existing PdVSA facility (Image: Vepica)
to US sanctions, which penalise companies that
invest in the South American country’s hydro- Additionally, Sycar said it had already begun
carbon industry. the process of seeking the necessary permits for
As of press time, no word was available on the project from the relevant Venezuelan gov-
OFAC’s response to this request. ernment agencies.

Week 46 16•November•2022 www. NEWSBASE .com P9