World

México


Trinidad
& Tobago

 




Very usefull links



PW
Bookstore





News links

AP

AFP

Aljazeera

Dow Jones

Oil price

Reuters

Bloomberg

Views and News
from
Norway

 

 

 

 

 

TT Govt. to pursue new marine acreage near oil-rich Guyana-Suriname basin-Energy Minister

Energy Chamber

The Hon. Franklin Khan, Minister of Energy and Energy Industries Trinidad and Tobago

By Kiana Wilburg / Kaieteur News

PORT SPAIN
Petroleumworld.com 02 07 2019

According to a U.S. Geological Survey report, the Guyana-Suriname basin holds an estimated resource potential of over 13.6 billion barrels of oil equivalent resources. It is ranked second in the world for prospectivity among the world's unexplored basins. These prospects have led to increased international interest and investments.

It appears, however, that ExxonMobil's 80 percent exploration success rate in the Guyana basin has caught the attention of regional states, particularly Trinidad and Tobago. In fact, the Government of Trinidad wants to aggressively pursue the acquisition of new marine acreage near the said basin.

Revealing this plan yesterday was Energy Minister of Trinidad and Tobago, Franklin Khan. He was at the time, delivering his remarks at his country's three day Energy Conference which is being held at the Hyatt Hotel. The event ends today.

There, Khan said that in the long term, the Ministry is excited about the prospect of acquiring new marine territory.

He said, “T&T, as a coastal state, is a signatory to the UN Convention for Law of the Sea. We are currently seeking to delineate the outer limits of our continental shelf, beyond two hundred nautical miles in accordance with Article 76 of the Convention.

The delineation of T&T's continental shelf beyond its Exclusive Economic Zone (EEZ) would put this country in a position to exploit the natural resources to be found on that extended portion of its continental shelf.”

The Energy Minister continued, “We submitted our claims to the Commission in April 2009 and are currently preparing to defend our claim to the UN Sub-Commission when called upon to do so, which we expect could be later this year.

“Our claims to the United Nations Commission on the Limits of the Continental Shelf, if successful, would extend our maritime jurisdiction seawards to the outer edge of our continental margin.”

He added, “This would be a major development as it would extend our boundaries to areas in proximity to the Guyana-Suriname Basin in which major hydrocarbon discoveries have already been made. While the UN Commission approves the claim submitted by each country it does not determine ownership.”

With that in mind, the Energy Minister said that Trinidad and Tobago will, therefore, have to engage in negotiations with Barbados, Guyana, Suriname, and French Guiana to apportion ownership. He said, too, that Trinidad, therefore, has an opportunity to increase its access to potential oil and gas resources.

“However, opportunities are like sunrises, if you wait too long you miss them,” expressed Khan to his attentive audience while noting that Trinidadians can be assured that his Government will “pursue this matter aggressively.”



SPONSORED STORIES


________________________


Story Kiana Wilburg reporting from Trinidad and Tobago from Kaieteur News


kaieteurnewsonline.com 02 06 2019

Hit your target - Advertise with us

PW 300.000 plus request per week

We invite all our readers to share with us
their views and comments about this article.

 

Write to editor@petroleumworld.com

By using this link, you agree to allow PW
to publish your comments on our letters page.

Any question or suggestions,
please write to: editor@petroleumworld.com

Best Viewed with IE 5.01+ Windows NT 4.0, '95,
'98,ME,XP, Vista, Windows 7,8,10 +/ 800x600 pixels

Twitter: @petroleumworld1

 

TOP

Contact: editor@petroleumworld.com,

Editor & Publisher:Elio Ohep/
Contact Email: editor@petroleumworld.com

CopyRight © 1999-2019 Petroleumworld- All Rights Reserved. Legal Information

PW in Top 100 Energy Sites

CopyRight©1999-2019, Petroleumworld ™  / Elio Ohep - All rights reserved

 

 

This site is a public free site and it contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.We are making such material available in our efforts to advance understanding of business, environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have chosen to view the included information for research, information, and educational purposes. For more information go to: http://www.law.cornell.edu/uscode/17/107.shtml. If you wish to use copyrighted material from this site for purposes of your own that go beyond 'fair use', you must obtain permission fromPetroleumworld or the copyright owner of the material.