London:
Too early to count
Port Spain
Petroleumworldtt.com
01 27 08
While
hailing Petro-Canada’s recent discovery
of a large natural gas deposit off Tobago as “encouraging”,
Tobago House of Assembly (THA) Chief Secretary
Orville London warned it would be premature to
begin “counting” the monetary benefits
that could accrue to the island as a result of
the gas find in Block 22 off north-east Tobago.
London,
Secretary of Energy at the THA and a member of
the National Energy Committee (NEC), noted it
was very early yet in terms of any possible direct
benefits that would come Tobago’s way.
He cautioned Tobagonians against jumping to conclusions
in this regard.
In an interview with Newsday London said he was
not aware, as to the exact impact of the discovery.
The
company he noted intended to drill four wells. “And
I think one of the things that we have got to bear
in mind,” he declared, “ is that even
if you find gas or oil, after you have done all
your calculations, you have to make the biggest
decision of all as to whether it is commercially
viable. Only the company can make such decision,” he
emphasised.
London
added that one has also got to take note of the
fact that drilling for energy resources
in deep waters, as is currently the case, could
be a “very expensive” undertaking. “I
am making no excuses for the company, but I just
want to caution that we should not jump to conclusions
about the impact of this discovery until such time
as all the calculations are made, including the
cost,” said London.
Meanwhile,
Malcolm Jones, chairman of Petrotrin, which has
a ten percent stake in the license, said
he was “very pleased” with the find.
He added that they hoped to find more gas because
Petrotrin was hoping to get more involved in the
gas business. That was one of the reasons the company
got together with Petro-Canada, he said.
Story by karl E. Cupid from Trinidad's Newsday,
Tobago Bureau
Trinidad's Newsday
Saturday, January
26 2008
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