Last week Tuesday the Belize Petroleum Association sent out a press release encouraging GOB to standardize the petroleum industry that would give investors’ confidence that the industry is unbiased. CEO in the Ministry of Energy, Science and Technology and Public Utilities, Dr. Colin Young shared the ministry’s views on the recommendations set out by the Belize Petroleum Association.
DR. COLIN YOUNG
“I have not read the report but speaking to Mr. Vasquez before I think they want to see a little bit more standardization of a number of things in the industry; one of them, for example, is the land owner access issues; whenever the oil company needs to enter on somebody‘s land, there is no standard agreement that is there and as a result the companies may spend many of weeks or sometimes months trying to get negotiation with the land owner and in the petroleum business, weeks and months translate into lots of money and so they have indicated to the ministry that they would like our assistance in helping to draft up a standard template that won’t be specific as to the terms but that would be a frame work that can be used to approach land owners and I think, as I said, I haven’t read the press release but I know that one of the issues they have raised with us in the past. The ministry has a very good relationship with the Belize Natural Energy Ltd and with the other oil companies that are currently looking for oil. We encourage all of these companies, if there are any issues that come up, the ministry has an open door policy; they can come in and speak to the department or speak to me as the CEO and/or the minister. We encourage all of them at any point if there is something that they think that the ministry needs to be doing better, to make those recommendations to us and we will seriously consider them.”