On 17th September, 2025 the Ministry of Energy and Energy Industries (MEEI) officially closed the 2025 Deep Water Competitive Bidding Round.
This round included all currently available deep water blocks. The ultradeep area (Blocks TTDAA 17, 18,19, 20, 21, 22 and 23), collectively known as TTUD-1, were not included in the round as negotiations with ExxonMobil commenced in 2024, prior to the launch of the bidding round on January 27th, 2025. The Production Sharing Contract for Block TTUD1 was executed with ExxonMobil on August 12th, 2025.
Competitive Bidding Rounds are part of an ongoing effort to maximize the utilization of our country’s hydrocarbon resources and are essential for ensuring energy security and promoting sustainability within our energy sector. While we have made significant strides in exploring both onshore and shallow water areas, a substantial portion of our deep water province remains underexplored. The aim of this bidding round exercise was to unlock the hydrocarbon resources in our deep water province and to attract new participants within the upstream sector.
At the close of the bidding round, the Ministry received a total of four bids from two bidders. Three bids were received from China National Offshore Oil Corporation (CNOOC) International Limited for Blocks TTDAA 24, TTDAA 25 and TTDAA 30 and the other bid from a consortium comprising of STIT Energy Limited and GROUNDPORTS Limited for Block TTDAA 5. CNOOC International Limited is a wholly owned subsidiary of CNOOC Limited, with deep water exploration and production experience. STIT Limited is a fully indigenous Nigerian oil and gas service company with expertise in conventional and unconventional exploration and production and is partnered with Groundports Limited, an active private company.
In light of the bids received, Dr. The Honourable Roodal Moonilal, Minister of Energy and Energy Industries stated “Upon taking office, this Government clearly understood the importance of restoring investor confidence by encouraging further investment. I would like to express my gratitude to CNOOC International Limited, along with the consortium of STIT Energy Limited and GROUNDPORTS Limited for their demonstrated interest through their proposals. I look forward to the announcement of the outcome of the bid evaluation process within the next three months.”
The Honourable Minister also expressed his intention to strengthen cooperation with leading international energy companies in deep water technology to ensure the optimal development of our deep water hydrocarbon resources.
At the closing ceremony, Honourable Minister Ernesto Kesar, Minister in the Ministry of Energy and Energy Industries highlighted that Trinidad and Tobago is currently competing in a market for investment with a limited number of players. However, he offered assurance that the government will be reviewing fiscal incentives to make Trinidad and Tobago a more attractive hydrocarbon province. He also proposed to continue engaging with multi-client partners to improve our 3D seismic data through acquisition and reprocessing, thereby enhancing the technical understanding of deep-water exploration areas.
In closing the bid round today, Minister Kesar reiterated his thanks to the participants and also to Ministry officials in the conduct of the deep water bidding round.
