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Foreword by Senator, Dr. the Honourable Lenny K. Saith

I’m pleased to be associated with the 2007-08 edition of Who’s Who in Trinidad and Tobago Business magazine. I expect that this publication would continue to be a resource of choice for the many local and international enterprises doing business in our twin-island Republic.

Our main policy imperative for the energy sector remains the provision of a platform for the significant development of our people potential which optimises the economic rents accruing to the country;

Increased local participation as downstream industries play a greater part, thereby widening the productive base of the country; and
Diversification of our energy sector which will minimise our market risks, stabilise our base production and buffer against drastic price fluctuation in the international market.

There are currently seven projects with more than US$8 billion in investment which meet our objectives for the sector, including development of new industries such as a plastics and an aluminium industry.

In support of these projects, Government has a robust exploration and production campaign to ensure adequate supplies of natural gas are available to meet increasing domestic demand for new industrial activities, and for export. Two successful competitive bid rounds for hydrocarbon acreages on shore, near shore, in the shallow marine, and in deep water were held in 2003-2004 and 2005-2006. Consequently, as many as 11 wells including two on shore are to be drilled in 2007 at a budgeted cost of US$234 million; with another six wells to be drilled at a cost of US$164 million in 2008 arising from Production Sharing Contracts awarded under the 2003-2004 round. Negotiations are being concluded with preferred bidders from the 2005-2006 competitive bid round, many of whom are newcomers to the energy landscape.

Our energy sector remains as dynamic as it is competitive. This Government remains committed to partnering with the business community to provide a stable environment for the continued economic success of our nation.

Senator, The Honourable Dr Lenny K. Saith
Minister of Energy and Energy Industries &
Minister of Public Administration and Information
Head Office: Riverside Plaza, 3 Besson Street,
Port of Spain, Trinidad and Tobago
Telephone (868) 624-6147, Facsimile (868) 625-0306

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http://www.whoswhotnt.com/index.cfm/1,121,314,0,html