Enill:
No official word on oil reserves
PORT SPAIN
Petroleumworldtt.com
03 02 08
Energy Minister Conrad Enill says there is no
official Government data to support a statement
by a senior National Gas Company executive that
the nation has 50 years of oil reserves left.
"That cannot be considered official," he
said in an interview with the Express yesterday.
Enill said that an audit of the nation's oil reserves
is to be taken soon and until it is completed,
no one can say for certain what is the exact reserves
position.
NGC
vice president Stephen Julien said on Tuesday
that subject to new discoveries, at the present
rate, "it is estimated" that known gas
reserves would last roughly 12 years and oil 50
years.
He said this was based on the report from Houston-based
company Ryder Scott, which had audited the nation's
gas reserves last year. However, the firm's senior
international vice president Herman Acuna said
it did not conduct an oil audit.
Julien made his announcement while delivering
an address at the Trinidad and Tobago Petroleum
Conference 2008 at the Hilton Trinidad in St Ann's.
Yesterday, however, Enill said he was unaware
of the oil reserves prediction announced by Julien.
"I don't know where he has been getting those
figures from. I must have more resources than him
and more information than him and I am not in a
position to do that," he said.
Two weeks earlier, on February 13, Enill announced
that a private consultant would be conducting an
audit of the nation's oil reserves from April to
June of this year, as another natural gas audit
is to begin soon and end in May.
Enill
did so during his feature address at the BG T&T
and First Citizens Bank (FCB) Energy Luncheon
Series at the Hyatt hotel at the Waterfront
in Port of Spain. He repeated that announcement
when he addressed the Petroleum Conference on Monday.
Story
by Juhel
Browne from The Trinidad Express
-jbrowne@trinidadexpress.com
The
Trinidad Express
Thursday, February 28th 2008
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