Trinidad and Tobago Accepted Bids for Six Onshore Oil and Gas Blocks

SEATTLE (Oil Monster): The government of Trinidad and Tobago has accepted bid recommendations for six out of total eight oil and gas exploration blocks. The exploration contracts will be awarded soon. The country’s cabinet had earlier decided to award licenses for six of the eight blocks following recommendation by Stuart Young, Trinidad and Tobago’s Energy Minister.

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According to sources, A&V Oil and Gas Ltd was recommended for the St. Mary’s block, which received the maximum number of offers. Also, Touchstone was recommended for the Cipero block, Eco Oil and Gas Solutions for the Tulsa block and Challenger Energy for the Guayaguayare block. Nabi Construction (Trinidad and Tobago) Ltd was recommended for the Aripero Block, while the Buenos Aires block will be awarded to Trinity Exploration & Production Plc.

The winners were selected based on several criteria including their willingness to conduct seismic studies and the total number of wells to be drilled. Also, some have agreed to pay signing bonuses.

Meantime, the winning companies refused to make any comment.

The Ministry will continue to hold negotiations with companies on the two remaining blocks, for which it expects improved offers from companies.