Trinidad and Tobago Deep Water Competitive Bid Round 2021 – Bidding Information
The Government of the Republic of Trinidad and Tobago invites stakeholders’ participation in its Deep Water Competitive Bid Round 2021. This bid round contains seventeen (17) offshore deep water blocks, namely, Blocks 23 (b), 24, 25 (a), 25 (b), 26, 27, TTDAA 1, TTDAA2, TTDAA 4, TTDAA 8, TTDAA 9, TTDAA 11, TTDAA 15, TTDAA 25, TTDAA 26, TTDAA 28 and TTDAA 29, located off the northern and eastern coasts of Trinidad and Tobago.
The Deep Water Competitive Bid Round was opened on December 3rd, 2021 and will run for six (6) months until 12 noon on June 02nd, 2022. All bids must be submitted by this deadline.
Successful bids will be announced three (3) months following the close of bidding.
Competitive Bidding Order (CBO)
The Petroleum Regulation (Deep Water Competitive Bidding) Order, 2021 (Erratum) outlines the requirements of bid submission, the maps and descriptions of the blocks, the summary bid form, and the point system used to evaluate bids.
Model Production Sharing Contract (PSC)
These deep water blocks will be governed by Production Sharing Contracts (PSC). The Model Deep Water PSC 2021 – positively vetted by the Attorney General ensures that operations are carried out to international standards and that all parties receive a fair share of revenue generated by the extraction and disposal of crude oil and natural gas. The Model PSC has been updated to reflect recent regulatory and economic changes.
A pre-bid fee of USD 40,000 allows interested parties to participate in this Deep Water Competitive Bid Round. Payment of this fee entitles parties to a data package which provide information on the seventeen (17) blocks on offer and assists in acreage evaluation as detailed in the Data Package Listing.
Parties are required to execute a Data Use Agreement to obtain access to the Data Package, detailed in the Data Package listing. Further details on the process are outlined in the Procedure for Obtaining a Data Package.
The data package also contains the Local Content and Local Participation Framework.
Virtual Data Room
The Ministry has collaborated with Lynx Information Systems Inc. (Lynx) to display a sample of the technical data available for the Bid Round in an online Virtual Data Room (VDR).
Other Useful Links:
Senior Geologist (Ag.)
(868) 225-4334 ext. 2360
Senior Geophysicist (Ag.)
(868) 225-4334 ext. 2371