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Petrotrin and
Voyager Sign PSC
Contract
Senator Enill...
This Investment
Suggests Confidence
in T&T |
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Senator the
Honourable Conrad
Enill, Minister of
Energy and Energy
Industries said that
the fact that a
third Canadian
Company, Voyager
Energy Trinidad
Limited was entering
into a contract with
Trinidad and Tobago
suggests that
international energy
companies have
confidence in
Trinidad and
Tobago.
The Minister was
addressing a large
audience that
included the top
management of
Petrotrin, Voyager,
Petro Andina, the
Ministry of Energy
and Energy
Industries,
Petrotrin and
Voyager Energy
Trinidad Ltd.
These PSCs give
Voyager exclusive
rights over the
Blocks and call for
a minimum work
program that
includes 100 km of
2D seismic, 250km of
3D seism, 3 shallow
wells and 1 deep
well to be completed
over a 4-year
period. |
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Executive Chairman, Petrotrin Dr. Malcolm A. Jones at right and CEO of
Voyager Energy (Trinidad) Limited, Gerold Fong |
Minister Enill
reminded the
audience that the
energy sector
remains the backbone
of the T&T economy
and that optimising
the economic rents
from this sector is
a critical part of
the Vision 20/20
Program.
He said: “Our
vibrant energy
sector gives
Trinidad and Tobago
a distinct
competitive
advantage.
Government’s
strategy is,
therefore, to
leverage the energy
sector for
development. The
people must
benefit.” |
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He
informed the distinguished gathering that in 2007 the energy sector
provided 64% of Government revenues and 78% of the foreign exchange
available to the economy.
Alluding to Canada
Superior and
PetroCanada- two
Canadian energy
companies who have
already achieved
success in this
country- the
Minister said that
Voyager’s entry into
the local scene
augurs well for the
energy sector and is
an expression of
confidence in
Trinidad and
Tobago.
He urged Voyager to
share their
technology and best
practices with
nationals of T&T and
suggested that
scholarships to
deserving students
is one good way of
ensuring this. |
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Executive Chairman
Malcolm Jones
reminded the
audience that in
2005, the Ministry
of Energy and Energy
Industries held a
Bid Round focussed
on generating a
quantum change in
the quest for oil
and gas production.
Canadian Voyager, an
affiliate of Voyager
Energy (Trinidad)
Limited, submitted a
bid in November 2006
for the Central
Range Block, and
flowing from that a
work programme was
finally negotiated
in 2008. An
important component
of the agreement was
that the incoming
Party would have
been in partnership
with the state
company, Petrotrin. |
Signing from left: Minister of Energy and Energy Industries, Senator
Conrad Enill, President and CEO of Voyager Gerold Fong and Executive
Chairman, Petrotrin Dr. Malcolm A. Jones |
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Mr. Jones
said: “These are the first and largest onshore PSCs granted by the
Government of the Republic of Trinidad and Tobago to date, covering
approximately 180,000 acres at the surface, a significant milestone to
say the least. This will be executed in an acreage that spans the width
of the island, from the Pitch Lake in the West to Manzanilla Beach in
the East. |
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Voyager Chief
Financial
Officer,
Geoffery Bury
(third from
left) and his
team review
documents with
Petrotrin's
General Manager
Law and Land
Management
Janice
Koylass-Abraham |
“While I
am aware that the Tabaquite Field, with its modest production, lies
within this acreage, this is the first time in decades that the Central
Range will be the subject of a deliberate exploration effort.
“It is my hope that we can secure a major discovery. My technical people
have informed me that the Block is on trend with the offshore Angostura
and Brighton Marine Fields. As always, the risk of finding oil and gas
may be high, but the rewards can be commensurate.” |
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