18

Editorial

Nineteen ninety-two will long be remembered as the year of joint venture partnerships (page 25), merger committees and sub-committees, widespread drilling rig inactivity and the year of major reassessment of plays and leads in the petroleum sector. With the exception of the planned TRINTOC-TRINTOPEC merger, these conditions were not unique to our local industry; far from it. This climate exists in almost every corner of the international oil patch. In the mining/quarrying sector, the impact of a welcome stimulus to construction, recently introduced in the Government's fiscal plan, is being evaluated, but, hopefully, it will mean a higher level of activity in the New Year.

Locally, 1992 has seen what has been perhaps the most concerted effort to assess, integrate, model and to identify new plays, reserves and business opportunities. There have been a record number of cross postings, secondments and a continuation of training courses, both technical and otherwise, to build on the knowledge and skills of local geoscientists at all levels. The local industry has also been enriched by increased activity in local farmouts and lease operatorship arrangements.

The test of how well we have utilized this period to plan and organize will be our ability to significantly increase production and profitability in the near future. Our nationalism, commitment and professionalism demand nothing less.


K. A. Gillezeau
Editor

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THE GEOLOGICAL SOCIETY OF TRINIDAD & TOBAGO
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