By Curtis Williams and Stephanie Kelly HOUSTON/LONDON, Feb 10 (Reuters) - BP is seeking a license from the U.S. government to develop its Manakin-Cocuina gas field that crosses the border between
BP Pursues OFAC License for Venezuela-Trinidad Gas Development
BP's Efforts to Secure OFAC License
By Curtis Williams and Stephanie Kelly
Background on Venezuela's Energy Sector
HOUSTON/LONDON, Feb 10 (Reuters) - BP is seeking a license from the U.S. government to develop its Manakin-Cocuina gas field that crosses the border between Trinidad and Tobago and Venezuela, its interim CEO Carol Howle told Reuters on Tuesday.
Impact on Trinidad's Gas Supply
Since the capture by the U.S. of Venezuela's former President Nicolas Maduro, several energy companies have been seeking to move forward with their projects in the South American country including Shell with its Dragon and Manatee projects and BP with Manakin.
Previous Licenses and Current Challenges
BP wants to develop the field to bring more than 1 trillion cubic feet of gas to Trinidad to convert into liquefied natural gas for export. BP owns 45% of Trinidad's flagship Atlantic LNG plants which was 15% of BPs total LNG production in 2025, data from financial firm LSEG show.
"Look, our interest is in the Manakin-Cocuina field, which is a cross border field between Trinidad and Venezuela. So we're working on obtaining the license for that, and that's really our priority at the moment," Howle said in a call with Reuters.
BP requires a license from the U.S. government to produce the field because of continued U.S. sanctions against Venezuela's state-owned company PDVSA, which operates on the Venezuela side of the border.
BP originally has an OFAC license from the U.S. and a license from Venezuela to develop the field but it was canceled by the Trump administration in 2025.
Trinidad has suffered from a shortage of natural gas to power its LNG and wider petrochemical sector. It wants to develop its cross-border fields with Venezuela that together hold 11 tcf in proven reserves.
(Reporting by Curtis Williams in Houston and Stephanie Kelly in London, Editing by Louise Heavens)
