GEISHA KOWLESSAR-ALONZO
geisha.kowlessar@guardian.co.tt
Heritage Petroleum Company Ltd and the University of the West Indies (UWI), St Augustine have signed a MOU for collaborative research and development, commencing a pioneering initiative within the energy sector.
Among the objectives include driving innovation and sustainability in the oil and gas industry, fostering joint research projects and knowledge-exchange initiatives, addressing challenges and shaping the future of the energy sector and exploring opportunities in sustainable energy solutions.
The event featured remarks from key stakeholders, including representatives from Heritage and UWI, highlighting the collaboration's strategic importance and potential impact on the energy landscape.
Chief Executive Officer of Heritage Petroleum Company Ltd Erik Keskula who spoke at the signing which took place at UWI's principal's office yesterday, said the event was a pivotal moment for Heritage, being the first time it entered into a formal collaboration with the UWI.
"This partnership symbolises the fusion of knowledge and practice, innovation and application as we embark on a shared mission to drive progress and prosperity in the energy sector.
"Heritage like many other global oil and gas companies, recognises the value of and leveraging the collective strengths that we have along with those from the University of West Indies to tackle some of the most pressing challenges of facing the energy sector today. Whether it be in the realm of exploration, production, renewable energy integration, environmental stewardship, technology or innovation," Keskula said.
He added the partnership will also serve as a catalyst for transformative change, continuous education and training which are increasingly viewed as imperative to the core of the business of oil and gas companies operating in today's high cost high risk environments.
Additionally, he said Heritage anticipates the implementation of solutions related to business activities in oil and gas exploration, development of marketing and sustainable energy solutions.
"By joining forces and harnessing the power of education, research and innovation, we have the opportunity to redefine the boundaries of what's possible within our sector, and become leaders in the region for decarbonising our operations," Keskula added.
Pro-vice chancellor and campus principal Rose-Marie Antoine, who also spoke, echoed similar sentiments as Keskula, noting the new, ongoing demand in the market for low carbon and cleaner products.
She said a balance must be struck with utililsing natural resources and sustainability
Heritage said this initiative was also in keeping with the company's economic, social and governance (ESG) strategy, emphasising capacity building, economic development support and the empowerment of future leaders.