Incentivise
tax regime
PORT SPAIN
Petroleumworldtt.com
03 02 08
INCENTIVISE
the tax regime. This was the clarion call by
oil executives yesterday
to Government. Incentivise the fiscal terms for
the new energy tax and royalties regime if you
want exploration activity to be stimulated.
This even as oil and gas company, PetroCanada
highlighted its drilling rigs and operations costs
dramatically escalated by more than 400 percent
between 2004 and 2007.
The call echoed from BHP Billiton
T&T president,
Vincent Pereira, to BG T&T general manager,
Jon Harris and a host of others, at the South Trinidad
Chamber’s 2008 Petroleum Conference.
Their statements came a day after Energy Minister,
Conrad Enill announced at the very conference,
that an independent consultant is in the second
week of consultations with the energy industry
and Government is moving aggressively to have a
new energy tax and royalties regime in place by
the start of the next quarter.
“BHP Billiton did not participate in the
last deep-water bid round. In our view, the terms
of the fiscal regime prohibited our participation
in the round since the expected economics were
insufficient to justify a bid,” Pereira pressed.
Story
by Roxane Stapleton -Whyms from Trinidad & Tobago
Newsday
Trinidad & Tobago Newsday
Wednesday, February
27 2008
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