Manning:
Energy forum a success
By Asha Javeed
Trinidad Guardian
Port Spain
Petroleumworldtt.com
08 18 07
With
12 years of proven reserves, Helena Innis-King,
director of resource management at the Ministry
of Energy, said she did not believe the country’s
immediate course of action should be to stimulate
exploration activity.
She was speaking on Tuesday during an open forum
at the conclusion of a two-day energy conference
held at the Hilton Trinidad and Conference Centre.
She pointed to several exploration projects off
the North East coast being pursued by Petro Canada
and ongoing exploration by Canada Superior, Kerr
McGee and EOG Resources which she said would generate
a substantial amount of gas.
She
said T&T should copy Norway’s energy
company, Statoil, and plan development in a measured
way. She said the country had a lot of exploration
acreage and what is being exploited, at present,
was only a small portion.
“I think we are in good shape and there
is enough exploration activity going forward. There
is no need to stimulate it,” she said.
Innis-King’s
comments were in direct contrast to statements
made by Energy Minister Lenny Saith
at a press conference last week called to announce
the results of the Ryder Scott Hydrocarbon audit.
Saith
had said he was satisfied with the results of
the audit which showed that T&T was consuming
more gas than it was discovering. He said the Government
needed to stimulate more exploration and would
review its tax structure as one of its measures.
“Well, that is the other side,” said
Prime Minister Patrick Manning who was chairing
the session. The forum was open to allow participants
to air their views which Manning said would be
taken under consideration for future energy policy.
BG chief of staff, Derek Hudson, called for more
collaboration between the Ministry of Energy and
the private companies on a quarterly basis which
would allow for a more transparent approach in
future.
Economist
Gregory McGuire said he was unclear about what
would be the Government’s new
model for the state enterprises and questioned
the reason for the proposed merger of all the state
energy companies.
National
Petroleum’s Richard Callender expressed
concern about the culture change which was required
in the state-owned oil companies noting that, “significant
transformations are required.”
Manning responded that the Government faced a
similar situation in BWIA but realised it could
not change its culture. Instead, it had to close
that company and form a new entity.
Manning concluded that the consultation had stimulated
enough discussion and insisted that it had helped
debunk the myth that the country was running out
of oil and gas.
He
insisted that the issue should not be used as
a political football and anyone who “tried
to do so is misguided.”
Trinidad
Guardian
Thursday
16th August, 2007
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©2007 Trinidad Guardian. All Rights Reserved.
