Energy Minister Kevin Ramnarine says new oil finds in T&T waters remain crucial towards generating revenue to facilitate government's fiscal programmes. This at Thursday's commissioning ceremony of the first well, SE-1, to be drilled by Soogl Antilles (Trinidad) Ltd, held at the Hyatt Regency Trinidad Hotel, located on Dock Road, Port-of-Spain. Ramnarine said the company was bringing to local shores a similar standard of excellence practiced by its Chinese parent company, Sinopec International Petroleum Corporation, a subsidiary of the Sinopec Group.
"We recognise that oil production in T&T is key to our development. We have to increase oil production as soon as possible if we are to impact on what Government is doing. We encourage you to stamp your presence in this country. We have a deepwater bid round coming up in November, and there is a shallow water round coming up next March. We look forward to your interest and participation in those bid rounds," Ramnarine said. He praised Sinopec for recognising and utilising the many services of local companies that were world- class, but more importantly, owned and managed by T&T nationals.
Zhan Qi, chairman, Sinopec International Petroleum Corporation, said his company was delighted that after more than six months of hard work, it could celebrate the spud ceremony of exploration well SE-1 of Soogl Antilles (Trinidad) Ltd. He expressed hope that Soogl Antilles could keep up this momentum to secure more wins and to bring a more prosperous tomorrow for the group.