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Kevin Ramnarine, Minister for Energy and Energy Affairs

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January 1, 2013

Results of the latest deepwater bid round are being announced this week. This round saw considerably more success than past ones; in this context, could you elaborate on the changes in the structure of these biddings rounds compared to previous rounds?

Senator the Honourable Kevin C Ramnarine, Minister For Energy and Energy Affairs

 

We made a number of changes to the fiscal regime for this bidding round. First, we increased the rate of cost recovery to 80 % (the recovery rate was 60 % in prior rounds). Second, we ...


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