Heritage Petroleum Company Limited, Trinidad and Tobago’s national oil company, is inviting expressions of interest for a partnership arrangement on its newly awarded Preau Block.
The block, located just south of Heritage’s Barrackpore Licence (Core Area C), spans approximately 11,200 acres.
Heritage Petroleum commissions offshore oil well S-938 | OilNOW
Surrounded by proven oil and gas fields, the block is considered potentially rich in hydrocarbons.
Heritage intends to identify a partner to support the initial exploration phase and to collaborate on subsequent development and commercialization if hydrocarbons are discovered.
The proposed structure may include a farmout of equity, a joint venture, an overriding royalty interest, a technical service agreement, or other investment models.
Lessons from TT: Heritage Petroleum CEO on risk management, cost control in oil industry | OilNOW
Interested parties must indicate their preferred mode of participation and submit supporting information.
“This partnership opportunity offers a chance to unlock untapped value in a proven hydrocarbon basin, with shared technical and financial collaboration toward successful commercialization,” the company said.
