Report paints bleak picture of Trinidad oil reserves

A report on Trinidad and Tobago's natural gas reserves has indicated that the country now has 10 years of gas left in its proven facilities.



The report by the US-based Ryder Scott Company shows that since 2000, proven natural gas reserves declined from 19.7 to 15.4 billion cubic feet in 2008.



The data for 2009 showed that reserves had declined even more, down to 14.4 billion cubic feet and probable reserves stood at 7.8 billion cubic feet of gas.



Senior petroleum engineer with the Texas-based company, Larry McHalffney, says the declining reserve figures paint a bleak picture of the country's oil and gas future.



McHalffney says despite the steady decline in the proven gas reserve figures over the past nine years, the country has maintained a steady, stable reserve base.



Energy minister Carolyn Seepersad-Bachan has said she’s not surprised at the results of the audit.



She says the government is dealing with the low reserves by moving aggressively with exploration.