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JULY 2016 Mr. Narinejit Pariag – Vice President, Finance and Information Management (Ag.) Mr. Pariag was appointed to act in the position of Vice President, Finance and Information and Management (FIMG) from the 26th March 2016. Prior to that, he held the position of Vice President, Finance and Administration at National Energy, a 100% owned subsidiary of NGC. Mr. Pariag has over 20 years’ experience in the field of Finance and Accounting, having previously worked for private sector corporations. Mr. Pariag holds an Executive Masters in Business Administration. He is a Fellow of the Chartered Association of Certified Accountants (FCCA) and Member of the Institute of Chartered Accountants of Trinidad and Tobago (ICATT). Regarding his new position at NGC, Mr. Pariag revealed: “The role of Vice President, Finance and Information Management Group is more than just being the financial gatekeeper. The VP, FIMG is expected to participate in driving the organisation towards achieving its objective. As part of the leadership team at NGC, my role is to support strategic and operational decision making in a ‘business partnership’ capacity, in addition to fulfilling the traditional stewardship responsibilities related to governance, compliance and control. “The current economic environment has created new challenges for NGC and Cost and Liquidity Management are two high priority areas. “Additionally, as an organisation, we are focused on growing NARINEJIT PARIAG economic value and therefore, there is now a significant focus on all investment projects achieving the required hurdle rate before moving forward. “During the last three months, I have been working together with the leadership team in developing the Strategic Plan for the period 2016-2020. On an operational basis, the focus over the next three months is strengthening and improving the reporting function to deliver consolidated reporting on a monthly basis. “The job is not without its challenges, but it is indeed gratifying to be entrusted with the stewardship and responsibility of such an important function at NGC – the FIMG Group. I see a great opportunity to work with the team as we continue to build on our success and create value for our shareholders.” NGC’s Head Office, Pt. Lisas Industrial Estate 16
JULY 2016 NGC NEWS Leasing of NGC’s Teak and Poui Platforms to Repsol NGC’s Offshore Platform – delivery of goods to the platform in progress early March 2016 After 34 years of operating offshore facilities, NGC took the difficult decision to discontinue the operation of its Teak and Poui platforms and associated Maintenance Departments in order to reduce its operating costs. The Teak and Poui gas collection and compression platforms have been leased to Repsol since April 2016. The Company recognised that severance of the employees who served this area of operation was a difficult option and sought to redeploy the majority of the employees to other areas of the company’s gas transmission and distribution operations. During the negotiations, NGC senior management met with the 84 affected employees to provide updates. Approximately 82% of these employees were offered alternate positions within the NGC Group. Sixty-nine (69) employees were redeployed to other units within the NGC Group, of which 30 have been afforded opportunities to enhance their technical skills and capabilities provided by a partnership with the University of Trinidad and Tobago (UTT). These certified programmes are NGC-funded and will span a 12 to 18-month period. This deliberate retraining effort was required to ‘upskill’ employees for the new challenges and opportunities in the Group. In keeping with proper industrial relations and international best practice, NGC met and even surpassed legal requirements to ensure that the 15 contract workers who were displaced by the new lease agreement, transitioned into new external opportunities. They were offered enhanced severance packages. Investment and financial planning training 17
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Page 15: JULY 2016 HUMAN RESOURCES New Membe
Page 19 and 20: JULY 2016 The Honourable Nicole Oli
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Page 23 and 24: JULY 2016 NATIONAL ENERGY NEWS Upda
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