Govt Offers Blocks 2(ab), Guayaguayare to Hardman, Centrica

Trinidad & Tobago's government has offered the Hardman Oil and Gas-Centrica Resources consortium the opportunity to enter into talks with the energy ministry for a production-sharing contract (PSC) for shallow marine block 2(ab), the ministry said in a statement.

The block falls under an E&P bidding round the government launched last year for eight onshore/nearshore blocks, three shallow marine blocks and eight blocks in the deep Atlantic.

Eleven companies in November - either alone or in consortiums - submitted 14 offers for eight onshore/nearshore and shallow blocks. One company in December submitted an offer for one deep Atlantic block.

The government also offered Hardman the opportunity to enter into PSC negotiations with the ministry for the Guayaguayare shallow and deepwater blocks.

Two companies tied for shallow marine block NCMA 2 and have been invited to submit new proposals, the statement said.

Acceptable proposals were not received for four onshore/nearshore and shallow marine blocks. The companies that came closest to the government's requirements were invited to hold discussions with the ministry to reach an acceptable proposal, the statement added.

These companies are Husky/Canadian Voyager, which bid for the Central Range shallow and deepwater blocks and Trinidad Exploration and Development that submitted a proposal for the Southwest Peninsula shallow and deep blocks.

Further, the government invited Norway's Statoil (NYSE: STO) to hold talks with the ministry to reach an acceptable proposal for block TDAA 5(ab) in the deep Atlantic.

The ministry expects to conclude talks with the preceding companies in three months, the statement said.

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