With a large number of TT’s oil-producing fields nearing the end of their lifespan, Energy Minister Franklin Khan has said new exploration techniques have to be employed to boost oil production both onshore and in the Gulf of Paria.
“Oil and gas exploration is a complex science. These oilfields are old – when I say old, I mean very old. We have been producing oil for over 100 years. Most of these fields – the Palo Seco field, the Fyzabad field, the Forest Reserve field, Point Fortin central, FC, FW – they were all discovered in the 1910s, 20s and 30s. Cumulatively they have produced a billion and half barrels of oil. But they are coming to the end of their lives.”
He said new oil and gas must be found onshore, “possibly Trinmar, in the Gulf of Paria.” The entire energy sector had migrated to the north and east coast of TT: “They have left us behind.” Exploration must now come up with new ideas and concepts for the to search for new oilfields, he said.