Energy Minister Kevin Ramnarine has described bpTT's plan to invest US$6 billion in T&T as an example of investor confidence in the economy.
"Yesterday, we had a presentation by Andy Hopwood. He is one of the four executive vice presidents of BP and, of course, they all report to Group CEO Bob Dudley in London. He announced yesterday BP is planning to spend US$6 billion in this country over the next five years. I thought that was a very significant statement coming from someone at that level at BP and it speaks a lot about the confidence that BP has in T&T.
Clearly, BP is committed to staying in T&T in the long run," he said. Ramnarine spoke to the media yesterday, the second day of the three-day of the T&T Energy Conference at the Hyatt Regency Trinidad hotel, Port-of-Spain.
He said: "They have recently concluded the first phase of what they call the ocean bottom cable (OBC) seismic, which is the latest technology with regard to 3D seismic. It seems that from what they are seeing, they are quite excited about their future in T&T. It is good news for the country, it is good news for the future of natural gas supply in T&T."