Former energy minister Errol Mahabir: New drilling programmes are ‘game changers’
New petroleum discoveries would lead to a great future for T&T, said Errol Mahabir, former minister of petroleum and mines, who served in the 1970s under the Eric Williams administration. Mahabir was at the time speaking at the National Energy’s (NE)—formerly National Energy Corporation’s—35th anniversary celebrations at the Hilton Trinidad Hotel and Conference Centre, St Ann’s, on September 13.
It was under Mahabir’s stewardship that the then National Energy Corporation and the National Gas Company was formed. Mahabir said the Energy Ministry headed by Minister Kevin Ramnarine is in excellent hands and described Ramnarine as a man well respected in the industry. Mahabir said he was elated to see that energy companies were being led by competent nationals of T&T.
“I am quite sure that the programmes that are in place right now will bring great fruits in the years ahead. With the new drilling programmes that are starting, for example, especially in offshore areas and the border gas with Venezuela, those have been described in the oil industry as game changers. If those game changers come and bear fruit, then the future of T&T is great.”
Ramnarine said he is certain the exploration being conducted on the east coast will reveal more petroleum resources. Ramnarine said he is expecting larger finds of oil than gas. He said drilling will not commence until 2016. He said once discoveries are made, production would not start until 2022. Ramnarine also sought to clarify errors made in two daily newspapers; not the T&T Guardian. He said it was previously reported that NE spent US$5 million to construct the Port of Galeota.
He said NE in fact spent US$85 million and completed the job on time and within budget. Ramnarine said this port would provide services for oil companies operating in the east coast and was the only new port built in 17 years.
He said the US$2.1 billion Juniper drilling project should provide heavy activity in the Union Industrial Estate where fabrication would be taking place. Ramnarine said NE had done well in the last 35 years in fulfilling its mandate to open new opportunities in the sector and provide support.