Oil find in genuine: Energy Minister

File: Kevin Ramnarine

Energy Minister Kevin Ramnarine has dismissed critics who have tried to pour cold water on the government's latest offshore oil find.

Opposition leader Keith Rowley has suggested that it is nothing new and even said that the announcement was timed to be a political distraction.

Last Thursday's Petrotrin announced the discovery of a new oil reserve which will see an estimated 48 million of barrels of oil drilled in an area off the coast of Point Fortin.

Ramnarine told local media on Monday the find is genuine. "Based on the advice that we got from people like Carol Telemacque and so on who are geophysicists of many years standing, we were of the view that there was sufficient information for the company to come forward and make that announcement," Ramnarine said.

"Bearing in mind too, that Bayfield made a similar announcement two or three weeks before and they would have probably had the same level of data and understanding," he added in reference to another significant find in which Petrotrin has a 35 per cent stake.

The Minister said the public will get more information in due course.