Prime Minister Kamla Persad-Bissessar and Exxon Mobil Upstream Company Vice-President of Global Exploration John Ardill sign the Award of a Production Sharing Contract for Block TTUDI at the Diplomatic Centre, St Ann’s, yesterday. Looking on are Minister of Energy and Energy Industries Dr Roodal Moonilal, left, and Minister in the Ministry of Energy and Energy Industries Ernesto Kesar. PHOTO BY ROGER JACOB

Prime Minister Kamla Persad-Bissessar says US energy giant, ExxonMobil, could spend between US$16.4 billion and US$21.7 billion on development costs in the ultra deepwater blocks in T&T’s territorial waters, 190 miles off Trinidad’s east coast, if the company’s initial seismic and other technical studies are successful.