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| Oil Rig, Photo Courtesy Centrica |
The Trinidad and Tobago Extractive Industries Transparency Initiative (TTEITI), released its first report last Monday. The report was an independent assessment of the country’s energy sector revenues; it reconciled the monies received from this sector by the government from oil and gas companies operating within the parameters of T&T and reconciled these figures against the revenue reported to have been received by the Government.
According to the report Tobago’s energy output was totaled at less than one percent (1%), and was derived from one company-Centrica Resources Limited-operating in Block 22 North of Bloody Bay and off the coast of Charlotteville. This revenue reported was for the fiscal year 2011. He indicated that BPTT and BHP Billiton, who also operate blocks on the coast of Speyside, were expected to contribute to the gross energy output of Tobago within the next five to ten years. Their contributions would be highlighted in future TTEITI’’s reports. He further stated that Tobago’s civil society groups have been engaged in workshops in anticipation of the release of the first report. The steering committee, he continued, will be engaging Tobagonians in the near future to afford the public the opportunity to ask questions as it pertains to the report and give appropriate feedback.