Oil company BP confirms it is seeking an OFAC license to work on the gas field between Venezuela and Trinidad
BP is seeking a license from the United States government to develop its Manakin-Cocuina gas field, which crosses the maritime border between Trinidad and Tobago and Venezuela, its interim CEO, Carol Howle, told Reuters on Tuesday. Reuters Since the United States' capture of former Venezuelan President Nicolás Maduro, several energy companies have been trying to advance their projects in the South American country, including Shell with its Dragon and Manatee projects and BP with Manakin.
TL;DR
- BP is seeking a U.S. government license to develop the Manakin-Cocuina gas field.
- The gas field straddles the maritime border between Trinidad and Tobago and Venezuela.
- The project aims to bring over 1 trillion cubic feet of gas to Trinidad for LNG export.
- A U.S. license is necessary due to existing sanctions against Venezuelan state-owned company PDVSA.
- BP previously held a license for this field, but it was canceled in 2025.