Belize - Belize News - Channel5Belize.com - Great Belize Productions - Belize Breaking News
Home » Economy » Economy: more oil wells for B.N.E.; job creation means infrastructure projects
Jun 9, 2011

Economy: more oil wells for B.N.E.; job creation means infrastructure projects

Even while the big news out of the Prime Minister’s press conference on Wednesday had to do with B.E.L., there was other information in respect of economic activity.  The P.M. presented a glowing report saying that petroleum is expanding and that new wells will come on stream at Never Delay.

Jose Sanchez, Reporting

Even without data from the Statistical Institute of Belize on the main industries, the PM said that banana production will approach five million boxes as it hadn’t done in years. The petroleum industry continues to pump more oil with addition of wells outside of the fields at Spanish lookout.

Dean Barrow

Dean Barrow

“There are now wells in production at the new Never Delay field also discovered by B.N.E. Five wells have been dug at Never Delay. A sixth is starting just about now. There is actually production from the wells that are Never Delay one, Never Delay two, Never Delay three and Never Delay 4 is shortly to come on stream. The total production is four hundred and thirty-eight barrels per day. From Never Delay four; they expect another thirty odd barrels per day. Never Delay Five; the drilling of which has been completed, has not yet been tested  so we are not sure how much will be had from that. But we are just under five hundred barrels per day in addition to the just under four thousand barrels per day that we produced at Spanish Lookout. The plan is for B.N.E. to drill fifteen wells all together at Never Delay.”

The Prime Minister reiterated at his quarterly press conference that job creation for Belize is highly dependent on infrastructural projects which are financed through loans.

Dean Barrow

“We said over and over we depend on infrastructure development from the public sector side of things as a tool, a vehicle for job creation. Just this morning, I signed two loan agreements with CABEI, the Central American Bank for Integration in the amounts of four point eight million US dollars and that loan arrangement is with respect to the dump to Jalacte road that is currently under construction. Some twenty-two miles of road will be brought to pave standings. So four point eight million U.S. is the loan amount agreed by CABEI and we just signed the documents this morning as I’ve said. That is only one component of the total financing of that project which in fact is coming in around forty million dollars.  Work has started. I think something like three hundred jobs have been created for the people of the Toledo district.  The other loan agreement that I signed this morning with CABEI is for six point two million U.S. dollars and that is for the financing of the infrastructure works that we will be doing at the new northern border crossing. Remember there is a new bridge international bridge built between Belize and Mexico. This is the money that will see us improve the border management facilities, build a new link road that will connect the current border management facility to the new international bridge. And so, twelve point four million Belize dollars is the amount of the financing that CABEI is providing to the government of Belize.”

The government is about to roll out  the twenty million dollars phase two of the Southside Alleviation  Project in which civil works will be initiated within the next three months.

Dean Barrow

“I believe there is an accelerated program with respect to the lining of the sides of the canal coming from the Yabra Bridge area and with respect to the refurbishment of the Jane Usher Boulevard. And if think that it’s too much of a coincidence that work is starting with Jane Usher, which is in the constituency of the minister responsible for the program, I would be the first to agree with you. But there after Central American Boulevard will be paved and various streets on the south side of Belize City. In terms of what we are doing for the district towns, there will be a smaller amount of money for the streets of the north side of Belize City.”

Reporting for News Five, Jose Sanchez.

According to the Prime Minister, the IDB is also funding a drainage project in the city and that a district infrastructure project of two point five million dollars begins this week.

Be Sociable, Share!


Viewers please note: This Internet newscast is a verbatim transcript of our evening television newscast. Where speakers use Kriol, we attempt to faithfully reproduce the quotes using a standard spelling system.

Advertise Here

8 Responses for “Economy: more oil wells for B.N.E.; job creation means infrastructure projects”

  1. Earl Grey says:

    WE NEED TO BUILD A REFINERY…………

    WE NEED TO BUILD A REFINERY…………

    WE NEED TO BUILD A REFINERY…………

  2. EASY GLENN says:

    When will the country of Belize see the real fruits of this revenue. Belize gas is still way up there and we have oil wow whe still dont have a refinery and we are still recieving ten percent wow Belize the get screwed again with no vasaline and we need fe own we oil and mek gas we self mek mo job fe we see so man a woman fe study MR GOVERNMENT GEt we OIL fe we now!!!! that tha something if you do that another question who will control this government own companies and if you voted out will theother party take over and start firing people. I do believe the government can help out busineses in distress but a take over of all the utility companies will take the power away from the people who will determine the rates who will monitor the goverment actually it sounds like Communism now!!!! But uno no the look it sound good but is it . WE need to solve the problem no tek the problem on and add it to the pile of others that we still still have not adressed to this dayThe economy broke the education system need fe change completly to much dummy deh out yah we dont have enough computers to communicate with the rest of the world But we got gun like sand fly . NEva seh no book run yah eitha nothing the move forward dah Belize NO thing the change but grave space round ya tek how unu tek All the GOB they the do tha fool focus pan the people help we get betta help we move forward help us to move forward we need hope!!!!!!!!!!!!!!!!

  3. Rod says:

    This is nothin bUT
    smoke here you have 5 oil wells that are not even producing 100 barrels of oil why even bother now I see how barrow is desperate to show something positive from his gov. But he and his gov. Is a total failure in every aspect of life in the country economy in the drain, education in the drain ,crime out of control, corruption rampant all of this equals a failed state in three years over 300 murders and counting resign barrow pleased do your country men a favor and resign admit that you are a total failure at this job and when you resign please take western mermaid with you.

  4. BDF soldier says:

    Been to belize several times,pass through the Customs building,yard,its a dam shame how that place looks,its here where the Government makes millions yet they cant take some of those $$$ to paved the yards,and make a better buildings,even here we see that the pup/udp makes investments on belize city only,the rest of the country can EAT S..T

  5. Reader says:

    If belize has 4000 barrels of oil a day, it’s not enough for a refinery. More oil has to be found for that, so I hope that other companies find oil because when we have a lot of oil pumping, then a refinery will be something realistic.

  6. Disappointed says:

    New road for border, new street for Jane Usher Blvd all to benefit Belize City. Since you told us you already have the money from European Union and contract is already signed, why is it I don’t see any work being done on the Progresso road????? Trying to figure out how to steal some of the money for Belize city again??? I really hope you don’t add the Progresso road to another one of your speeches again because people can’t even get to Progresso anymore the road is so horrific.

  7. carlos says:

    We here all the millions of dollars that the p m says will invest in the towns and cities but is it only there that belizeans live? People also leave in the villages. In the last village council elections we heard how the politicians claim that they won here and there in different villages. For what? what is the use of all this? They don’t care about the conditions of the streets, the drains. etc. Now that town board and city elections are coming now they are making all sorts of projects in the towns and cities. For many years we have heard about southside project , and alliviation projects for south side and still lots of crime is still going on in the city. Our government need to be more equitable and distribute the project throughout the country , not only the towns and cities but also the villages.

  8. Earl Grey says:

    WE DON’T IMPORT SUGAR…………….WE SHOULD NOT IMPORT OIL/GAS!!!!!!!!!!!!

Leave a Reply

CAPTCHA Image
*