Ramnarine dismisses Rowley. Oil will flow soon says Energy Minister

File: Oil rig at Soldado field off T&T west coast

Energy Minister Kevin Ramnarine on Tuesday insisted that oil will flow in 12 months from the new oil find.

Ramnarine made the comment in response to a statement the day before from the leader of the opposition that the find was a "hoax" and that it was part of the government's policy of "distraction".

Keith Rowley has challenged the government to provide full details on the find, which he said is bogus.

The minister dismissed Rowley's statement and told reporters in 12 months the proof will be in the pudding when production begins.

He said experts drilled four appraisal wells in 2011 and confirmed the presence of the reservoir in three of them. One of the wells was dry, he noted. Ramnarine said a detailed development plan is being done to determine the reserves and their commercial viability.

Ramnarine stated that Rowley's comments on the find have been inconsistent. In his initial statement Rowley spoke of the "Jubilee Discovery" as being good for the country and later had a different story.

"The information that we have is information that is done by very senior people of Petrotrin, by geologists and geophysicists of many years experience so to say it is a hoax is really to attack their integrity," said Ramnarine.

"Petrotrin has committed to produce this oil within 12 months and I suppose the proof will be when that oil is produced. We look forward to Dr Rowley's comments in 12 months time when we begin production," he added.

Ramnarine also confirmed that revenue for the oil find will be reflected in the national budget for fiscal 2013-2014.

He said there are 48 million barrels in total reserve and reiterated that Petrotrin has not made a discovery like this in over a decade.