PdVSA awarded exploration blocks to Chevron and Statoil in 2003 in the Plataforma Deltana area, located off Venezuelas northeast coast adjacent to the countrys maritime boundary with Trinidad and Tobago. PdVSA estimates that Plataforma Deltana contains 40 Tcf of Natural Gas reserves. Chevron began exploration in 2004 of the Loran field (Block 2), drilling three wells. The company also announced in June 2005 that it had drilled a successful exploratory Well in its adjacent Lau-Lau field (Block 3) that tested at 51 Mmcf/d. Statoil holds the exploration License for the Cocuina field (Block 4), and the company has contracted an exploratory rig for the field for 2005. However, the company ceased drilling in June 2005 due to safety concerns about the drilling equipment; as part of its license for the block, Statoil has agreed to drill at least three exploratory wells in four years. PdVSA has had difficulty attracting interest in the remaining two blocks of Plataforma Deltana. It has twice offered Block 5, with no takers. The company has been in negotiations with BP over Block 1, also known as El Dorado, but there have been no firm commitments. Greater development of Plataforma Deltana will likely depend upon cooperation with Trinidad and Tobago, which already has sizable production activities in its adjacent territorial waters. BP would like to develop El Dorado in conjunction with its nearby Cassia B platform in Trinidad and Tobago, which currently has spare capacity. Venezuela and Trinidad and Tobago began negotiations in 2004 to delineate cross-border reserves. In March 2005, the two countries signed a memorandum of understanding to export Venezuelan natural gas via Trinidad and Tobagos Atlantic LNG facility. On the other hand, Trinidad and Tobago refused to join Venezuelas Petrocaribe initiative in 2005. PdVSA held its latest natural gas licensing round in 2005. The round, dubbed the Rafael Urdaneta project, covered offshore acreage in the Gulf of Venezuela adjacent to Falcon state, with estimated reserves of 25 Tcf. PdVSA established the end of September as a deadline for companies to bid on six blocks. PdVSA plans to hold future licensing rounds for addition offshore exploratory blocks, including Blanquilla (10 Tcf of estimated reserves), Carupano (16 Tcf), and Bonaire (6 Tcf).