Young says Trinidad targeting deepwater bid round this year 

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Trinidad’s Minister of Energy and Energy Industries, Stuart Young, announced that the country is expected to launch a deepwater bid round this year to shore up its gas resources. 

“We are committed to sustaining production through investment in our hydrocarbon resources. It is with this recognition we continue to actively engage with all our upstream entities to provide fiscal incentives for new and existing oil and gas projects,” he said on Jan. 22 at the opening day of the Trinidad and Tobago Energy Conference. 

Trinidad and Tobago, Minister of Energy and Energy Industries, Stuart Young.

TT’s last deepwater bid round received little interest; bids were submitted for only four of the 17 blocks up for grabs. The auction was opened on December 3, 2021 and ran for six months. 

The blocks – 25B, 25A, 23B and 27 – were bid on by a consortium of bp and BG/Shell.

Trinidad currently has a shallow water bid round ongoing. The closing date set for April 2, 2024. Successful bidders will be announced within four months of the bid round’s conclusion.

Thirteen blocks are up for grabs in this round: block 1(b), block 2(ab), block 2(d), block 21, block 22(a), block 22(b), block 4(c), Guayaguayare (Offshore) block, block lower reverse L, block modified U(c), block NCMA 2, block NCMA 3, and block NCMA 4(a). These blocks are located in the shallow water areas off Trinidad coastlines. Collectively, they hold an estimated unrisked resource of approximately 13.4 trillion cubic feet (TCF) of gas. 

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