T&T will see an increase in its proven natural gas reserves within the next decade, according to Andrew Jupiter, professor of petroleum studies at the University of the West Indies. In an interview with the Business Guardian, Jupiter said the additional reserves will come from the deep water and that it requires between five and seven exploration wells being drilled annually in order to replace the annual 1.5 trillion cubic feet of gas used annually.
On Friday, the Ryder Scott 2013 Natural Gas Reserve Audit Report indicated that there had been a seven per cent decline in proven natural gas reserves in 2013 compared with 2012. Some of the highlights of the report, which is eagerly anticipated by local energy watchers every year, included that T&T has proven reserves of 12.24 billion cubic feet (bcf), probable reserves of 5.526 bcf and possible reserves of 6.116 bcf.
Read the full story from the Trinidad and Tobago Guardian newspapers.