Trinidad and Tobago’s Prime Minister, Keith Rowley, during his recent
State Visit, said as one of the oldest oil producers, his country has
a wealth of experience from which Guyana can learn as it embarks on
petroleum production come 2020.
“Whatever our experience has been good, bad or indifferent it will do
Guyana well to know what that experience is even if it is not taken as
advice,” he said during a press conference following the signing of
the Memorandum of Understanding (MOU) for energy cooperation on
September 19 at State House.
Speaking about his country’s development in the oil and gas sector, PM
Rowley refuted suggestions that the country is not that well off.
“Trinidad and Tobago is in no state. Trinidad and Tobago, as a
country, has done well for itself and we have done so largely on the
back of the hydrocarbon business,” PM Rowley clarified.
According to him, the hydrocarbon sector has benefitted the
twin-island Republic significantly over the years. The vision, he
explained, was to produce oil for the market and over time the country
became one of the largest producers of refined products in the British
empire.
The international market, the Prime Minister said, allowed that
country to prosper with much of the reserves buttressing the country
during what he described as a difficult period.
The hydrocarbon sector is responsible for the developments in the
education, infrastructure, telecommunications and other sectors, he
pointed out.
PM Rowley drew attention to Trinidad and Tobago’s exploration
activities and its movement of interest in the hydrocarbon sector from
oil onshore to offshore, as well as gas offshore and in the deep
water.
“We are now more engaged as ever or more so in the hydrocarbon sector
than we were 100 years ago,” he noted.
With respect to contracts, Rowley said as a small country
participating in a big industry, it respects the sanctity of contracts
while not accepting that contracts are “written in stone.”
He added that once there is goodwill between or among the parties to
the contract, the possibility for revisiting the terms exists, to
ensure that there is a balance.
“That is the basis with which we have approached multinationals and we
do so out of respect and we do so out of competence,” the Prime
Minister stated. He went on to explain that his country has no
hesitancy in raising concerns with the performance of some contracts.
PM Rowley reminded that Guyana has a friend in Trinidad from which it
can get advice if needed.
