Trinidad & Tobago Receives 18 Bids for 10 Blocks

Trinidad and Tobago's energy ministry received 18 bids from eight companies for 10 offshore oil and gas blocks by the January 14 deadline, the ministry said in a press release. Winners will be announced March 10, according to the schedule. The ministry will take about 3-6 months to negotiate and sign contracts, a ministry spokesperson told BNamericas.

PetroCanada, BG and Repsol YPF bid on block 1(a), PetroCanada bid on block 1(b), Kerr McGee, Canadian Superior, Repsol YPF and BHP Billiton bid on block 2(ab), Kerr McGee and BHP Billiton bid on block 3(b), EOG Resources bid on block 4(a) and Canadian Superior and BG bid on block 5(c), while Norsk Hydro and PetroCanada bid on block 22. BHP Billiton was the sole bidder on blocks 23(a), 23(b) and 24.

The ministry launched the bidding round in 2003, originally for just seven blocks, to boost domestic oil and gas reserves.

The tender includes shallow water blocks block 1(a), block 1(b) in the Gulf of Paria off the west coast of Trinidad and block 2(ab) off the east coast. Also included are continental shelf blocks 4(a), 3(b) and 5(c) off the east coast, and deep-water acreage blocks 22, 23(a), 23(b) and 24 off the northeastern coast.

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