Caracas, Venezuela: Energy Minister Kevin Ramnarine and his Venezuelan counterpart Rafael Ramirez today signed an agreement that establishes the functional and governance structure to oversee the development of the giant Loran-Manatee gas field that straddles the Trinidad and Tobago / Venezuela maritime border. This field has approximately 10 trillion cubic feet of natural gas. The signing was described as historic and as a first for the Americas. It comes 10 years after an MOU was signed by both countries to develop cross border reserves. Work will now commence on a development plan for the optimal production of the reserves.