Kevin Ramnarine, Minister for Energy and ENergy Affairs

摘要

We made a number of changes to the fiscal regime for this bidding round. First, we increased the rate of cost recovery to 80 % (the recovery rate was 60 % in prior rounds). Second, we repurposed all the 3D seismic data that we held for deep water. Third, we marketed the bidding rounds very differently, attending many international conferences. We also presented a smaller number of blocks-only 6 blocks as compared to 11 deepwater blocks in previous rounds. Another factor was the opening up of the Guyana basin, which contributed to greater prospects for Trinidad. Finally, many companies have now realized Trinidad is a good place to do business, due to our stable political situation and ability to speak English. Companies like BP have had a good experience in Trinidad over the last 50 years.