The Energy Chamber of Trinidad and Tobago reported that the country’s 2025 Deepwater Bid Round closed on September 17, with Chinese state-owned oil company CNOOC International (China National Offshore Oil Corporation) submitting bids for three of four blocks that attracted interest.
CNOOC placed bids for blocks TTDAA 30, TTDAA 25, and TTDAA 24, all located in the northwestern area of Trinidad and Tobago’s Exclusive Economic Zone. The fourth bid came from STIT Energy and Ground Ports Consortium, which targeted block TTDAA 5.
CNOOC is no stranger to the region, holding a minority interest in Guyana’s prolific Stabroek Block. In that venture, CNOOC owns 25%, while ExxonMobil operates with 45% and Hess (acquired by Chevron) holds 30%.
The 2025 bid round, launched in January, invited submissions for 26 deepwater blocks in the Eastern Marine Area, spanning 28,177 square kilometers.
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Speaking on the outcome, Minister in the Ministry of Energy and Energy Industries, Ernesto Kesar, explained that the process now shifts to evaluation. He said the bids will be reviewed by both a Technical Evaluation Committee and an Overview Committee, established by Cabinet and comprising representatives from the Ministry of Energy and Energy Industries, the Ministry of Finance, and the Office of the Attorney General. The committees’ reports and recommendations will be submitted to Cabinet for approval.
“Successful bids will be announced within three months,” Minister Kesar stated. He added that winning bidders will be issued a production sharing contract for an initial period not exceeding ten years. In the event of a commercial discovery, the contract may be renewed for a 25-year term, but only for the portion of the contract area where the discovery was made, effective from the date of the original contract.
ExxonMobil, which operates the Stabroek Block in Guyana, also obtained acreage offshore Trinidad earlier this year. At a ceremony in August, the oil major acquired the Ultra-Deep 1 Block, spanning 7,765 square kilometers in the Eastern Tobago Basin, marking its return to the twin-island Republic after 22 years.
