Thursday September 9th, 2010
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Mayers: T&T has gas for projects until 2028
Published: 10 Mar 2010
Helena Iniss-King, director, resource management, Ministry of Energy, and permanent secretary Leroy Mayers.
PHOTO: DILIP SINGH
There is enough gas to meet projects until 2028, said Leroy Mayers, permanent secretary, Ministry of Energy. “Recently, we did an evaluation of our gas resources and we were quite comfortable that we have enough gas resources to meet projects that we have agreed on. “We have allocated gas for projects and we also have existing projects. We have 11 ammonia plants and we have seven methanol plants and we have determined that there is enough gas to meet these projects as far as 2028.
“We have enough gas based on the existing reserves to meet existing projects and planned projects. This is what we have determined based on exploration and other activities. Then again there are other activities to come that would show up our gas reserves.” He said this yesterday in reply to questions from the Joint Select Committee on the 2000 to 2001 annual report for Ministry of Energy in Parliament. Helena Iniss-King, director, resource management, Ministry of Energy, said by the end of the month, the Ministry of Energy will be launching the next competitive bid round. “Seven blocks will be offered and this will be gas blocks mainly. We’ve looked at the capital demand of the future and we decided that it will be expedient to offer, at this point in time, blocks that are more perspective for gas. “Work from these blocks should begin some time in 2011 because the close off bid round is in August, and we traditionally give companies a wide time to gear up to start the exploration.
“So within a year to 15 months after signing contracts, we should have acquired all the exploration tools before they come to drilling wells,” she said. Iniss-King said proved gas reserves for T&T stand at 15.37 trillion cubic feet (tcf), while probable gas reserves are at 8.45 tcf and possible gas reserves stand at 6.39 tcf. She said total gas reserves stand at 30.11 tcf.
How can we call the gas
How can we call the gas reserves as factual value and base industries on probable and possible reserves? see below from an OIl and Gas publication, I quote:
""Reserves are categorised as being proven probable or possible based on confidence levels, as follows:
Reserves Description
Proven Reserves which on the available evidence are virtually certain to be technically and commercially producible, i.e. have a better than 90% chance of being produced.
Probable Reserves which are not yet proven, but which are estimated to have a better than 50% chance of being technically and commercially producible.
Possible Reserves which at present cannot be regarded as probable, but which are estimated to have a significant but less than 50% chance of being technically and commercially producible.
""
You have to do a development programme to turn either into the higher category of proven or probable.
Another manure factory! We
Another manure factory! We already know the essence of the Scott Ryder Report. What has changed? Is it that this man is being threatened by Manning?
As this new gas will be so much deeper, in smaller pockets, and further off0shore, will the possible gas be marketable at a national profit, or will we have to subsidize it to prevent Point Lisas from closing down. If we subsidize it, how long will that cherade last before we are at IMF?
If this is government's plan, Vision 2021 (the vision of non profitable gas and no gas will start soon and government is attempting to pull the wool before election to cover the squanda >>
NYC-Trini
Don't be surprised that the
Don't be surprised that the Guardian quotes are probably not true given historic reporting and quotations.