Trinidad and Tobago Onshore and Nearshore Competitive Bid Round 2022
Closure of the Bid Round
The 2022 Onshore and Nearshore Competitive Bid Round was opened on July 8th , 2022 and remained open for six (6) months until 12 noon on January 9th 2023.
In total, sixteen bids were received for 8 of the blocks. The bids received were:
Current Status of the Bid Round
The bids received would be evaluated by a Technical Evaluation Committee, after which an announcement would be made on the awards of the blocks. This process should take approximately three (3) months.
Competitive Bidding Order
The Petroleum Regulations (Onshore and Nearshore Competitive Bidding) Order, 2022 outlined the requirements of bid submission, the maps and descriptions of the eleven (11) blocks available for bidding, the summary bid form, and the point system which would be used to evaluate bids.
Model Exploration and Production Licence (E&P)
The eleven (11) blocks will be governed by Exploration and Production Licences (E&Ps). The Model 2022 Exploration and Production Licence – positively vetted by the Attorney General ensured that operations were 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 E&P Licence has been updated to reflect recent regulatory and economic changes.
A bid fee of USD 30,000.00, or the equivalent in the currency of Trinidad and Tobago, allowed interested parties to participate in the 2022 Onshore and Nearshore Competitive Bid Round. Payment of this fee entitled parties to:
- A Data Package, which provided information on the eleven (11) blocks on offer, to be used for acreage evaluation. Details of the Data Package are provided in the Data Package Listing;
- Bid on any or all of the blocks on offer.
The Data Package also included the Local Content and Local Participation Framework, as well as the Model Joint Operating Agreement 2022 (JOA).
Virtual Data Room
The Ministry collaborated with Lynx Information Systems Inc. (Lynx) to display a sample of the technical data that is available for the Bid Round via a Virtual Data Room (VDR).
The Virtual Data Room is now CLOSED.
Other Useful Links
Senior Geophysicist (Ag.)
225-4EEI ext. 2371
225-4EEI ext. 2360