News Americas, PORT OF SPAIN, Trinidad, Mon. July 28, 2025: After more than two decades, ExxonMobil may be heading back to Trinidad — and the implications could be huge for the country’s oil, LNG, and energy services sectors.
The U.S. energy giant is reportedly in advanced talks with the Trinidad and Tobago government to explore up to seven deepwater offshore blocks located off the island’s East Coast. These blocks sit just north of the Guyana-Suriname basin, where Exxon has made over 30 major oil discoveries since 2015.
The negotiations are occurring outside of Trinidad’s current deepwater bid round, which closes in September 2025 – a legal move allowed under Trinidad’s energy framework. This strategic re-entry suggests Exxon sees new potential in Trinidad’s offshore reserves, long considered mature but underexplored at ultra-deep water depths. “If all goes well, I will be able to make a very positive announcement,” said Energy Minister Roodal Moonilal, signaling the government’s optimism about a landmark deal.
A Regional Energy Reset?
Exxon’s return could mark a turning point not just for Trinidad, but for the wider Caribbean’s upstream energy future. With natural gas as the country’s main revenue driver, a new wave of exploration could revitalize LNG exports, feed petrochemical industries, and inject much-needed momentum into the energy services and supply chain ecosystem.
Trinidad is already home to Atlantic LNG, one of the largest gas processing and export hubs in the Western Hemisphere. However, gas production has declined in recent years. A successful Exxon deal could help reverse that trend — especially if paired with joint ventures and long-term offtake agreements.
The move also aligns with shifting global energy dynamics. As Europe and Asia look to diversify energy supply chains, Caribbean gas is back on the map, particularly from politically stable nations with ready infrastructure.
For Investors: Signals to Watch
- Deepwater Expansion: If finalized, this deal could pave the way for more international oil companies (IOCs) to revisit Trinidad’s basins.
- Supply Chain Rebound: Local services, logistics, and fabrication firms stand to benefit from new offshore activity.
- Regional Synergies: With Exxon already dominant in Guyana, its return to Trinidad could spark cross-border energy coordination.
So — could Exxon’s return ignite a new boom?
If talks succeed, the answer may be yes — and Trinidad could once again become a leading energy hub in the Caribbean and beyond.
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