TRINIDAD AND TOBAGO — Occidental Petroleum Corp. received approval from Trinidad and Tobago on June 8 to join ExxonMobil in an ultra-deepwater exploration block. The approval allows Occidental to acquire a 10% non-operating stake in Block TTUD-1.

Kamla Persad-Bissessar, the Prime Minister of Trinidad and Tobago, stated that Occidental can acquire the stake with government consent. ExxonMobil will retain a 90% interest and the operator position in the block.

Occidental is involved in the exploration, acquisition, and development of oil, natural gas, and natural gas liquids. The company also handles the storage and transportation of oil and gas products.

Additionally, Occidental buys, processes, and sells carbon dioxide, natural gas, power, and condensate. The company engages in these activities as part of its broader operations in the energy sector.

The transaction marks Occidental's entry into the specific ultra-deepwater asset alongside ExxonMobil. Government records reflect the consent granted on June 8 for the stake acquisition. The block remains under the operational control of ExxonMobil following the approval.