Trinidad and Tobago explores oil and gas sector

A thirteen-member delegation from the Trinidad and Tobago was in the country to explore investment opportunities in the oil and gas sector.

The seven-day visit discussed issues including oil and gas policy formulation, local content strategy, development of the gas sector, and private sector development among other areas. It was also meant to deepen bilateral relations between the two countries.

Deputy Energy Minister, Dr. Kwabena Donkor, at a meeting with the delegation in Accra announced government’s preparedness to follow Trinidad and Tobago’s model of managing the oil and gas sector to minimise its associated problems.

He said government will collaborate more with that country to find out how best to implement the model, which primarily aims at channelling revenue from oil resources into the provision of social amenities and development of infrastructure.

“If the exploration should become a curse and not a benefit, then it should remain under the sea. The country will use oil as a platform to develop its health education, and the entire nation.

“Government will promote the model which allows local firms to actively participate in the oil industry as well as maximise the benefits of oil by exploring the use of by-products,” he said.

Mrs Victoria Mendez Charles, the Consular of the Republic of Trinidad and Tobago who led the delegation, said the team has rich experience in the energy industry and is ready to partner Ghana in exploring the areas covered to the benefit of the two countries.

The visit was to share the experiences and challenges encountered during the past 50 years to help Ghana create the necessary environment that will ensure that the oil becomes a blessing rather than curse.

She advised government to ensure proper use of the oil revenue to uplift the citizenry’s standard of living, especially in the socio-economic development of the nation.

Trinidad and Tobago is one of the wealthiest countries in the Caribbean, with a population of over 1.3 million. It has large reserves of oil and gas, the exploitation of which dominates its economy.

The two-island state enjoys a per capita income of over 14,000 dollars and exports of its natural gas to the United States market.