Oil supermajor BP has agreed to develop Venezuela’s Cocuina‑Manakin gas field, straddling the maritime border with Trinidad and Tobago, and to explore joint opportunities in the offshore Loran gas area under a new memorandum of understanding with the Venezuelan government. The deal formalises the launch of gas development at Cocuina‑Manakin, which extends from Venezuela’s inactive Deltana platform project into Trinidad, where a BP subsidiary already operates it as Block 5b. Venezuela’s interim president Delcy Rodriguez said the agreement “represents a milestone for the national energy industry by reactivating the multinational’s presence in key areas of the Deltana platform.” Venezuela’s state oil and gas company PDVSA said the pact was part of a broader push to bring international producers back into the country’s energy sector. The agreement follows the announcement of a new oil project in the country by Italy’s Eni, while Spain’s Repsol plans to start exporting natural gas from Venezuela with Eni in 2031. BP previously said it was seeking a US government licence to develop the Manakin‑Cocuina field, which holds more than 1trn cubic feet of gas. The company intends to develop the field to supply gas to Trinidad, where it will be converted into LNG for export. “The return of BP is a clear sign of the future we want to chart for Venezuela and for international energy relations — relationships based on respect, cooperation grounded in a win‑win approach, and shared benefits that contribute to the development of the Venezuelan people,” Rodriguez said. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsUnited Kingdom Venezuela