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Energy Chamber signs MoU with French Guiana
The Energy Chamber has signed a memorandum of understanding (MoU) with the Chamber of Commerce in French Guiana on training and building capacity. The MoU emerged out of a September 8-13 trade mission to the French overseas territory of Guiana, which was led by Roger Packer, president of the Energy Chamber, and managing director of Tucker Energy Services.
The 19-member trade mission included representatives of Trinidadian energy service companies, the energy sector State-enterprises and the Ministry of Energy and Energy Affairs. The mission was a follow-up to a May 2012 visit to Trinidad from private-sector and regional government representatives from French Guiana, to learn more about T&T’s energy sector. In a statement, the Energy Chamber said the trip gave the Trinidadian delegates the chance to learn first-hand about the potential oil developments off-shore French Guiana and to make important contacts in the region.
“A number of companies from T&T has already been working on the drilling programme being run by Shell some 150 kilometres off the coast of French Guiana. There is significant potential for further business development and the forging of partnerships and joint venture arrangements with businesses in French Guiana,” read the statement.
“Private-sector and governmental representatives from French Guiana accepted the invitation of the Energy Chamber to attend the upcoming January 2013 Energy Conference in Port-of-Spain to further strengthen ties and develop relationships.” The trade mission to French Guiana involved private-public sector cooperation in the promotion of exports and outgoing investment from T&T. The Energy Chamber said it was the first time senior officials from the Ministry of Energy accompanied an outgoing trade mission, which sent a “very strong signal of a united and co-ordinated national strategy to develop new markets for energy services exports and investments.”
About French Guiana
French Guiana is one of three overseas French territories in the Caribbean. The territory is administratively part of France and therefore part of the European Union. The region has a population of just 230,000 people in a large territory of 83,846 square kilometres. The economy is relatively underdeveloped compared to the other French territories, but has been growing more rapidly.
In March 2011, Tullow Oil began drilling the Zaedyus exploratory well in deepwater (2,000 metres) off the coast of French Guiana. In September 2011, the company announced it had encountered oil in what could potentially be a major new reservoir. Shell, which is a joint investor in the exploration, has now taken over operating the exploration block and is in the process of drilling an appraisal well to help determine the full extent of the discovery and the potential of its commercial value.
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