Trinidad's state-owned petroleum company says it has discovered 48 million barrels of crude oil off the island's southwest coast. Trinidad's Petrotrin President Designate Khalid Hassanali said late Thursday that it is the company's biggest discovery in a decade. The crude oil is located in 60 feet of water.
Prime Minister Kamla Persaud-Bissessar said the anticipated revenue would be used for several development projects throughout the country.
Prime Minister Kamla Persaud-Bissessar stated,