ENERGY Minister Franklin Khan yesterday said no employee at his ministry has been penalised for inaccurate information sent to ratings agency Standard and Poors (S&P).
Khan told members of the House of Representatives, he was aware of , “how the inaccuracies originated.” He said there was, “no deliberate attempt to send inaccurate information to S&P.
As a consequence of this incident, Khan said he issued certain instructions to his staff. These include all information to rating agencies and multilateral bodies being approved by him and the ministry’s permanent secretary (PS) before release and all information to these entities being approved by him and the Finance Ministry.
Khan said the new gas forecast is ready but it is too late to provide it to S&P.
In a statement earlier this week, Finance Minister Colm Imbert said the misinformation in the gas forecast data will be corrected in the Article IV consultation with the International Monetary Fund, that will take place in the next two months.
Khan told MPs the new data showed the country’s gas production was its highest in the last three years of 3.9 billion cubic feet (bcf) per day.
The Juniper, Starfish, Dolphin and Angelin platforms are all on schedule with their respective gas production.
Later in the sitting, Khan said a leak on a well in the Soldado North Field has been contained. Further steps were to be taken to stop the leak, Khan said.
However, the minister said the ultimate solution would be to seal and abandon this well.