Challenge
for Deeper Drilling
By
Keino Swamber
Trinidad
Express
Port
Spain
Petroleumworld.com
09 10 06
Energy Industries Minister Lenny
Saith has issued a challenge to energy-based industries
to research and develop technologies that would
make it easier to drill deeper on land and in deep
waters, and gas wells producing at higher than normal
rates.
Speaking last week at the launch
of the Natural Gas Institute of the Americas, Saith
said Government was pleased with the successful
development of the country's hydrocarbon resources
which were critical to creating sustainable economic
growth and ensuring a high standard of living.
The launch was held at the Point
Lisas Campus of the University of Trinidad and Tobago
(UTT) which is developing the Institute along with
the University of Texas at Austin, Texas, USA.
The Institute is expected to build
upon the academic content of the programmes in all
relevant areas of study at the UTT, integrate and
develop existing research institutes and make specific
UTT interventions to stimulate research and development
specific to the industry.
Saith said: "[The]launch of
the Natural Gas Institute of the Americas is particularly
significant in light of our country's international
standing as a leading world liquefied natural gas
producer and the largest supplier of LNG to the
United States of America.
"At present, Trinidad and Tobago
holds the chair of the Gas Exporting Countries Forum
- 15 of the world's most influential natural gas
producing and exporting countries working together
to promote stability and sustainability within the
industry.
"The pivotal role played by
Trinidad and Tobago in this forum for the 2005/2006
term, allowed our country to participate in the
global energy arena at the level of strategy formulation
and on the conduct of technical studies, which ultimately
guides the future development of the global natural
gas industry."
Saith said Government had taken
a policy decision to widen the spectrum of gas-based
projects to include plastics and metals to further
advance the best use of the country's gas reserves.
"We have also placed a high
priority on the stimulation of downstream activities
and the deepening of involvement along the entire
length of the LNG value chain.
"At present, Government has
expressed interest in the development of seven value
added, energy related projects representing more
than US$8 billion in direct foreign investment.
"These include two aluminium
smelters, a polypropylene complex, an iron and steel
complex, a fertiliser production complex, a melamine
and UAN complex and one maleic anhydride plant."
UTT
Chairman, Professor Kenny Julien said the establishment
of the Institute was a major step in producing focused,
structured research and development which will further
raise the profile of Trinidad and Tobago in the
natural gas world.
Trinidad Express
Wednesday, August 30th 2006
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