ExxonMobil signed a deal on Tuesday to explore a vast area near Trinidad and Tobago for oil and gas, even as the twin-island nation faces pressure to focus more on green energy deals. The search will take place off Trinidad’s east coast,

The Prime Minister of Trinidad and Tobago stated that the agreement with ExxonMobil provides additional energy security for the Caribbean nation, which has a population of approximately 1.4 million people.

Exxon Mobil signed a deal to explore a vast deepwater area offshore Trinidad and Tobago for oil and gas, and the country's energy minister said the company could spend as much as $21.7B.

PUERTO ESPAÑA, Trinidad y Tobago (AP) — ExxonMobil firmó el martes un acuerdo para explorar una extensa área cerca de Trinidad y Tobago en busca de petróleo y gas, incluso mientras la nación caribeña enfrenta presión para enfocarse cada vez más en pactos de energía verde.

Exxon Mobil could invest as much as $21.7 billion in Trinidad and Tobago if the energy major finds reserves in a large deepwater area it plans to explore for oil and gas in the Caribbean country, energy minister Roodal Moonilal said.

Trinidad and Tobago's Government has reportedly agreed to grant US oil giant ExxonMobil exploration rights to an ultra-deep area encompassing seven blocks, according to a Reuters report, citing two senior government officials.

ExxonMobil has agreed terms with Trinidad and Tobago to be awarded seven ultra-deep exploration blocks, marking its return to the Caribbean nation's offshore exploration.