Recent fears over the future of Venezuelan Petrocaribe aid have sparked a huge surge of interest in the Oil, Gas and Power industries in the Caribbean region.

Recent developments in the Venezuelan political landscape have encouraged the Caribbean region to question their position within the Oil, Gas & Power industry. Lee Hunt, consultant and former president of the International Association of Drilling Contractors, commented that:

'"What once was a trickle is fast becoming a stream in the Caribbean, with new announcements of expanding deep-water exploration lease offerings and drilling permits being issued"'.

Just seven miles from the Venezuelan coast, which holds the largest proven oil reserves, Trinidad and Tobago holds the majority of the Caribbean region's oil production and is a major exporter of liquefied natural gas. The minister of Energy and Energy affairs, Senator Kevin Ramnarine, recently noted that:

“'The level of drilling and workover activity in the oil and gas industry has significantly increased in the last two years. We expect this trend to continue in the medium term. [...] In the last two years we have applied a progressive policy with regard to the fiscal regime that has seen Trinidad and Tobago’s upstream sector become more competitive.'"

Industry professionals will have a chance to discover the latest investment opportunities at the 2-day Caribbean Oil, Gas & Power Summit in September 2013. The event aims to bring together some of the world's leading industry players, including Energy ministers, senior Oil and Gas company representatives, Contractors, Service Companies and Solution-providers, to  strengthen industry ties and seek out new business opportunities. Speakers will be addressing the Caribbean energy industry's most topical issues, including: Trinidad and Tobago licensing rounds, Exploration and Production updates, Investment and Financing Energy Projects, Small Scale LNG, Inter-Connectivity and Power Grids, the Role of Renewables in Power Generation, Rejuvenating Mature Oil Fields and a series of Case studies.

Delegates will have the chance to attend a Multi-Streamed Conference, Networking Evening, and 40 booth interactive exhibition, all in the comfort of the five-star venue, The Atlantis Hotel. A Business Match-Making Service will also be on offer to arrange one-on-one meetings between delegates.

Khalid M. Hassanali, President, Petroleum Company of Trinidad and Tobago LTD; Vernon Paltoo, President, National Energy Corporation Trinidad and Tobago; Simon Potter, CEO, Bahamas Petroleum Company and Neil Ritson, CEO, Leni Gas And Oil PLC are just some of the industry experts that will be speaking at the event.

For further information, just click here: http://www.thecaribbeansummit.com/ 

References:

http://www.caribbeannewsnow.com/topstory-Significant-increase-reported-in-Trinidad-oil-and-gas-industry-activity-15880.html

http://www.miamiherald.com/2013/04/04/3323947/venezuelan-oil-program-uncertainty.html

http://bigstory.ap.org/article/caribbean-nations-search-oil-amid-spill-fears-0