Saith:
Government to report on TT's reserves
By Elio Ohep
Petroleumworld Trinidad & Tobago / Caribbean
Port
Spain
Petroleumworldtt.com
06 19 07
Speaking
at the
Hilton, Port of Spain in the gas event
of the year, GazChem 2007, conference, Dr
Lenny Saith, Energy
Minister and Acting Prime Minister said
on Monday, Government
will soon reveal the results of the audit of
Trinidad and Tobago's petroleum reserves conducted
by Ryder
Scott, a reputed
Houston-based energy consultant.
The
audit "will
give an informed picture of our natural gas reserves", Saith said.
The
last audit conducted in 2005, by the same firm
placed
the reserves at 34.86 tcf
(trillion cubic feet).
Of
this, 18.7 tcf were proven reserves; 9.02 tcf
were probable and 7.06 tcf were possible.
Saith
said on its speech that eleven
wells, including two onshore, are to be drilled
this year at a total budgeted cost of US$234
million. And in 2008, six wells are to be drilled
at a total cost of US$164 million.
Additionally,
from the 2006 bid rounds, the sum of US$565
million is to be incurred from calendar 2008
on the amalgamated obligatory work programmes,
Saith added.
Petroleumworld
Tuesday, June 19th 2007
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