During his tenure as Minister , the government provided the incentives necessary to Trinidad and Tobago’s deepwater acreage for exploration.
In total nine deepwater “production sharing contracts” (PSC’s) were signed with BHP Billiton and its partners.
[1] This seismic survey covered 20,1999 square kilometers of the deepwater province of Trinidad and Tobago.
After government legislated fiscal incentives were implemented, investments in deep-offshore by companies such as BHP meant that Trinidad & Tobago saw a four-fold increase in petroleum related Foreign Direct Investment from $US 501 million in 2010 to $US 1.9 billion in 2014.
[2] Due to the rapid expansion of the oil and gas industry, Ramnarine received the award of “Energy Executive of the Year” from Petroleum Economist magazine in 2014.