It
looks like “God is indeed a Trini” as President has declared. This as the Twin
Island Republic of Trinidad and Tobago has discovered Oil as noted in the
article “Trinidad
makes major Oil discovery” published Sunday April 1, 2012, The Jamaica Gleaner.
Ironically,
this discovery was in 60m of shallow water in the midst of an aggressive push
by the Twin Island Republic of Trinidad and Tobago to encourage more Deep Water
Drilling of the East coast and the North coast of both Trinidad and Tobago.
According
to the article, the fortuitous discovery was made by State-owned Oil company,
PETROTRIN in the Gulf of Paria four (4) miles west of Point Fortin in 60 feet
of water. The newly discovered well with an estimated 48 million barrels of
crude in such shallow waters is a lucky break, after PETROTRIN had spent quite
some time aggressively searching for Oil.
This
is quite a turnaround from two (2) years ago when the Government of Trinidad
and Tobago had declared that they only had ten (10) years of Oil left as state
in the article “Ten
years left of LNG in T&T”, published Friday,
July 16, 2010 BY RENUKA SINGH, The
Jamaica Observer. Back then, I had pointed out that this
was in light of their promise to supply Jamaica with LNG and recent discoveries
that Jamaica may soon find Oil in our coastal waters as stated in my blog
article entitled “Alternative
Energy and Trinidad and Tobago - Strange encounters of the Third Kind”.
PETROTRIN's
president-designate, Khalid Hassanali states that the discovery, which comes
some three (3) weeks after a another Oilfield with some 32 million barrels of crude Oil was found by
Bayfield, mostly consists of a mixture of heavy and light crude oils. The
Government of Trinidad and Tobago has a 35 % equity stake in the block Bayfield
made the discoveries and operates in, so it’s win-win for them.
As
PETROTRINI specializes in making Refined Oil Products, this mix of different types
of Oil in the Gulf of Paria is a boon to the State-owned Oil Refinery, quote:
"We have a combination of heavy Oil, which is very viscous and the lighter
Oil. The lighter Oil can be used to dilute the heavy Oil so when you make that
type of combination, you get a new composite crude. We are at a stage where the
refinery is a lot more versatile, where the appetite for crude input and the
ability to manufacture the types of products that the world and the Caribbean
and local economy can take".
With
PETROTRINI's Refining capacity standing at 150,000 barrels per day and 50,000
barrels of Oil that comes from local fields, this local find will help to
eliminate the 100,000 barrels of Oil that was being was imported for refining
into final products.
And
there more Oil to be found! Energy Minister Kevin Ramnarine expressed optimism
that there is more Oil laying yet to be discovered in deeper waters in East and
North Cost of Trinidad and Tobago, quote: “There are many who believe the
deeper horizons on land particularly below 6,000 feet could hold tremendous
potential for this country of an entire new Oil province which we never really
tapped into”.
Prime
Minister Kamla Persad-Bissessar bubbles enthusiastic with the discoveries of
additional Oil mean for the Twin Island Republic of Trinidad and Tobago, quote:
“As a result of the jubilee discovery by PETROTRIN as a state- owned company,
decisions can be made faster and easier and you can be assured there will be no
squandering of these very precious resources but every penny derived will go
towards genuine people-centred development in several areas. So what does it
now mean for the man in the street, for the citizen of Trinidad and Tobago? In
a phrase if I would sum it, I would say better times in the best of initiatives
that will benefit you the citizen of Trinidad and Tobago.”
Jamaica
is also close to having discovered Oil as chronicled my blog
article entitled “Alternative
Energy and Jamaica's Oil Prospects - Carletta DeLeon, The Spy who Loved Me”
and “Alternative
Energy and the Recent Oil Discovery in Jamaica - The Merchant of Venice”.
Prime
Minister Kamla Persad-Bissessar words, therefore, is the kind of
forward-thinking sentiment that Jamaica’s current PNP-led administration could
do well to remember when it comes to the use of money from any Oil discovered
in Jamaica as pointed out in my blog
article entitled “Bruce
Golding, Corruption in the PCJ and the search for Oil”.
The
depth of this latest Oil finds is in shallow water. This is good as production
can begin in a matter of weeks as opposed to months in the case of Deep Water
Wells. But more importantly, it means that the People’s Republic of Trinidad
and Tobago can not only continue their push towards Vision 2020, but can also
supply Jamaica with the LNG we had asked them for back in 2006AD as chronicled
in my blog article
entitled “Alternative
Energy and LNG - Is Energy Sector
Liberalization necessary”.
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