Friday, January 19, 2018

Ministry names successful companies for Deepwater Competitive Bid

 The Ministry of Energy on Wednesday night announced the names of the companies who were successful in 2013 Deepwater Competitive Bid Round.  

The blocks and the successful bidders are: 

• Trinidad and Tobago Deep Atlantic Area 3 (TTDAA 3): BHP Billiton Petroleum (International Exploration) Pty Ltd and BG International Limited

• Trinidad and Tobago Deep Atlantic Area 7 (TTDAA 7): BHP Billiton Petroleum (International Exploration) Pty Ltd. and BG International Limited

The MEEA will now enter into negotiations for a Production Sharing Contract for each Block, subject to the positive vetting by the Attorney General, the ministry said.

Block TTDAA 3 and Block TTDAA 7 are located off the southeastern coast of Trinidad and Tobago and were part of the group of blocks offered in August 2013 under the 2013 Deep Water Competitive Bid Round and for which bids were received in March 2014.  The consortium for the blocks is committed to first-phased Minimum Exploration Work Programmes that includes the acquisition of 2,400 sq kilometres of 3D seismic and undertaking of additional geologic studies. For the second and third phases, for both blocks, the consortium proposes to drill four wells, each to a depth of 2,200 metres.

Total investment for both blocks is planned at approximately US$250 million of which US$29.3 million is to be allocated to the first phase of the work programmes, the ministry said.