Trinidad and Tobago’s Energy Minister, Dr. Roodal Moonilal, has announced a significant uptick in the nation’s oil and gas production, attributing the growth to renewed investor confidence and the return of ExxonMobil after a 22-year absence. Speaking at the American Chamber of Commerce TT’s Health, Safety, Security, and Environment (HSSE) Conference in Port of Spain on November 11, Moonilal revealed a 5.5% increase in oil output, rising from 52,357 barrels per day in April to 55,271 barrels per day in October. Natural gas production also saw a boost, climbing from 2.41 to 2.63 billion cubic feet per day between April and June. Moonilal emphasized that the new UNC administration’s aggressive policy interventions and expedited negotiations have revitalized exploration activities and restored investor trust. He highlighted ExxonMobil’s return as a pivotal moment, describing it as achieving ‘the gold standard for the pace of negotiations.’ The minister also noted the potential for over $20 billion in investment from ExxonMobil’s ultra-deepwater campaign in the Eastern Tobago Basin, targeting depths exceeding 2,000 metres. Despite these advancements, production levels remain below historical highs, with sustained growth dependent on new exploration projects, regulatory stability, and market conditions. Moonilal expressed optimism, stating, ‘We are bringing change with optimism and hope. And with that optimism will come results.’ Additionally, he mentioned progress in talks with Shell on the Manatee Plus project and securing a new U.S. licence to advance work on Venezuela’s Dragon gas field, despite recent tensions with Venezuelan President Nicolas Maduro.