The Trinidad and Tobago 2025 Deep Water Competitive Bidding Round is officially underway, with 26 blocks now available for bidding. This round sees the return of 13 out of the 17 blocks offered in the previous bidding cycle. The official order for the bidding round was gazetted on January 24. The pre-bid fee is set at US$25,000, with the bid application fee at US$40,000.
Bids are due by noon on July 2.
“Where a bid is received after the deadline for the submission of bids pursuant to subclause (4), the Ministry shall return the unopened bid to the bidder, accompanied by an explanatory letter indicating the time and date of receipt of the bid,” the Order stated.
Successful bids will be announced within three months of the bid closing date.
The 2021 Deep Water Competitive Bid Round was launched on December 3, 2021, and officially closed on June 2, 2022. This round featured 17 offshore deep water blocks: Blocks 23 (b), 24, 25 (a), 25 (b), 26, 27, TTDAA 1, TTDAA 2, 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. In total, four bids were submitted, all from a consortium comprising BP Exploration Operating Company Ltd and BG International Ltd.
The bids received were:
Block 23(b) – BP Exploration Operating Company Ltd / BG International Ltd
Block 25(a) – BP Exploration Operating Company Ltd / BG International Ltd
Block 25(b) – BP Exploration Operating Company Ltd / BG International Ltd
Block 27 – BG International Ltd / BP Exploration Operating Company Ltd
After several months of negotiations between the Ministry of Energy and Energy Industries and the Consortium, the parties reached a mutual agreement on fiscal and technical improvements for the bids on three blocks—25(a), 25(b), and 27. The Production Sharing Contracts for these blocks were officially signed during a ceremony held on September 26, 2023, at the Hyatt Regency in Port-of-Spain.
