Statoil Sole Bidder for Deepwater Block Group

Norway's Statoil (NYSE: STO) submitted the only offer to Trinidad & Tobago's energy ministry for the second group of blocks in the hydrocarbons bidding round, newspaper Trinidad Express reported.

The eight deepwater blocks range from 79,947-84,155ha and are off the country's east coast in depths from 1.7-3km.

Statoil submitted an offer for block TDAA 5 as it appeared to be the block with the "most potential, " company representative Gareth Burns was quoted as saying.

Nine groups last month submitted offers to the ministry for the first group of onshore, nearshore and shallow marine blocks.

The ministry expects to announce winners early next year.

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