Petrotrin, OWTU sign restructuring MoA

State-owned Petrotrin and Trinidad and Tobago’s Oilfields Workers’ Trade Union signed a memorandum of agreement (MoA) related to the NOC’s restructuring over the next 18 months, local media reported on Wednesday.

The MoA will allow for a working committee to be set up to preside over Petrotrin’s restructuring into four separate entities for Land North and East, Trinmar Offshore Operations, Exploration and Production, and the Augustus Long Hospital. The company’s division is expected to facilitate its return to profitability.

The committee will include representatives from both Petrotrin and OWTU, working together to “address, resolve and agree on the four organisational structures, work processes and skills/competencies and manpower requirements which will make the company internationally competitive, thus ensuring its survival, sustainability and profitability.”

The committee is expected to begin meeting in April.