Touchstone Exploration has finalised its acquisition of Shell’s stake in Trinidad and Tobago’s Central Block, marking a significant expansion of its gas production capabilities in the Caribbean.
Calgary-based Touchstone Exploration has successfully closed the acquisition of Shell’s interest in Trinidad’s Central Block, a move that significantly enhances its gas production portfolio in the region. This strategic acquisition aligns with Touchstone’s broader objective to strengthen its presence in Trinidad and Tobago’s energy sector, particularly in the natural gas domain.
The Central Block, situated in a prolific gas-producing area, offers substantial potential for development and production. By securing a 65% operating interest, Touchstone not only gains access to existing reserves but also positions itself to explore further opportunities within the block. This acquisition is expected to bolster the company’s production volumes and contribute positively to its financial performance.
Touchstone’s CEO, Paul Baay, has expressed confidence in the acquisition, highlighting the company’s commitment to operational excellence and sustainable growth. The integration of the Central Block into Touchstone’s portfolio is anticipated to enhance its ability to meet the growing demand for natural gas, both domestically and in export markets.
This transaction also reflects Shell’s strategic realignment, focusing on optimizing its global asset portfolio. By divesting its interest in the Central Block, Shell continues to streamline its operations, concentrating on core assets that align with its long-term objectives.
For Touchstone, the acquisition represents a significant milestone, reinforcing its position as a key player in Trinidad and Tobago’s energy landscape. The company’s expanded footprint in the region is expected to drive future growth and deliver value to shareholders.
