Strong showing at deepwater bidding round
Trinidad and Tobago has had its most successful deepwater bid round since the exercise was launched in 1998.
Five out of the six deepwater blocks put up for bid received a total of 12 offers as the names of the consortia expressing interest were announced during the closing ceremony yesterday at the Hyatt Regency (Trinidad), Port of Spain.
The blocks were Block 25 (a), Trinidad and Tobago Deep Atlantic Area (TTDA) 1, TTDAA 5 and TTDAA 6 off the east coast of Trinidad; and TTDAA 28 and TTDAA 29 off the north eastern tip of Tobago.
Block 25 (a) received no bids.
Energy Minister Kevin Ramnarine expressed surprise, saying the block had previously been operated by Shell in 2002, and while hydrocarbons were found then, it was not in commercial quantities. He said he thought the block would have generated interest because of technological advances in the industry over the last decade.
The bid round officially ended yesterday at noon. The ceremony began immediately after, where the bid boxes were opened and the names revealed.
Bidders included a consortium including BGTT and Centrica, and BHP Billiton.
There were, however, some new players entering the Trinidad and Tobago game, including a consortium of Eastern European energy companies Elenilto LLC, Socar and Caspian Drilling Company.
Successful bidders are expected to be announced on or before November 16.