info@oilfieldafricareview.com    +2347067282358

T&T Sets For Onshore And Nearshore Competitive 2022 Bid Round

The Government of the Republic of Trinidad and Tobago is inviting investors’ stakeholders’ participation in its 2022 Onshore and Nearshore Competitive Bid Round. This bid round contains eleven blocks, namely Aripero, Buenos Ayres, Charuma, Cipero, Cory D, Cory F, Guayaguayare, South West Peninsula Onshore, St. Mary’s and Tulsa, located in the Central to Southern onshore acreage of Trinidad and South West Peninsula Offshore, located off the southern coast of Trinidad.

The 2022 Onshore and Nearshore Competitive Bid Round was opened on July 8th, 2022 and will remain open for six months until 12 noon on January 9th 2023. All bids must be submitted by this deadline.

Successful bids will be announced three (3) months following the close of the bid round.

Competitive Bidding Order

The Petroleum Regulations (Onshore and Nearshore Competitive Bidding) Order, 2022 outlines the requirements of bid submission, the maps and descriptions of the eleven 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 blocks will be governed by Exploration and Production Licences (E&Ps). The Model 2022 Exploration and Production Licence will ensure 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 E&P Licence has been updated to reflect recent regulatory and economic changes.

Data Package

A bid fee of USD 30,000.00, or the equivalent in the currency of Trinidad and Tobago, allows interested parties to participate in the 2022 Onshore and Nearshore Competitive Bid Round. Payment of this fee entitles parties to:

  1. A Data Package, which provides information on the eleven blocks on offer, and can be used for acreage evaluation. Details of the Data Package will be provided in the Data Package Listing;
  2. Bid on any or all of the blocks on offer.

To obtain access to the Data package, parties will be required to execute a Data Use Agreement. Details on the process will be outlined in the Procedure for Obtaining a Data Package.

The Data Package also includes the Local Content and Local Participation Framework, as well as the Model Joint Operating Agreement 2022 (JOA).

Virtual Data Room

The Ministry has 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).

Facebooktwitterredditpinterestlinkedinmail
Get free monthly subscription news in oil and gas industry
*Please enter a valid email address Subscribe Me

Please wait....

Thank you for subscribing...