Trinidad’s Shallow Water Competitive Bidding Round 2023/2024 closed around noon on May 27 with only four out of 13 blocks receiving bids.
The 13 blocks collectively hold an estimated unrisked resource of approximately 13.4 trillion cubic feet of gas.
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Its Ministry of Energy and Energy Industries announced that the Block Modified U(c) Block got the most bids; three were received for this acreage from BG International Ltd. (Shell), BP Exploration Operating Company Ltd, and EOG Resources Trinidad Ltd.
EOG Resources Trinidad Ltd. was also the sole bidder for the Block Lower Reverse L block and Block NCMA 4(a). BP Exploration Operating Company Ltd was the sole bidder for Block NCMA 2.
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“These bid rounds are aimed at ensuring sustainable exploration and production and maximizing our country’s hydrocarbon resources. Following the successes of the 2021 Deep Water Competitive Bidding Round and the 2022 Onshore/Near Shore Competitive Bidding Round, this Shallow Water Competitive Bidding Round was the third in a series of bid rounds conducted by the Ministry of Energy and Energy Industries,” the Ministry said.
Successful bidders will be announced within four months of the bid round’s conclusion.
Coming up next in Trinidad is the launch of a deep-water competitive bidding round, set to take place at the end of this year.
