Government of Trinidad and Tobago announces new deep water bidding round for 26 oil blocks

 


The Government of the Republic of Trinidad and Tobago is inviting participation in its Deep-Water Competitive Bidding Round 2025. The bidding round contains twenty-six (26) offshore blocks. These blocks are located along the eastern and northern coasts of Trinidad and Tobago.

The Deep-Water Competitive Bidding Round was opened on January 27th, 2025 with the deadline for submission of bids being 12 noon on July 2nd, 2025. Successful bids will be announced three months following the close of bidding.

The Petroleum Regulations (Deep Water Competitive Bidding) Order 2025 outlines the requirements of bid submission, maps and descriptions of the blocks, the summary bid form, and the evaluation method for bid submissions.

The Government notice states that these deep water blocks will be governed by Production Sharing Contracts (PSC) agreements. “The 2025 Model PSC – to be positively vetted by the Attorney General ensures 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 PSC has been updated to reflect recent regulatory and economic changes and will be available in the coming weeks,” it was stated.

Interested parties are subject to a pre-bid fee of US$ 25,000 which will allow participation in this Bidding Round. Payment of this fee entitles parties to a data package which provides information on the twenty-six blocks on offer to assist in acreage evaluation as detailed in the data package listing.

The data package also contains the local content and local participation framework for the Republic of Trinidad and Tobago dated October 7th 2004.

Upon receipt of the completed form, the MEEI will contact bidders to provide further instructions for the execution of a data use agreement to obtain access to the Data Package.

The Ministry, in collaboration with Lynx Information Systems Inc. (Lynx), has launched a Virtual Data Room (VDR) to provide view-only access to technical data for the bidding round.

While the downloadable data package remains the primary resource for detailed block evaluation—allowing for full interpretation and analysis—the VDR allows users to preview datasets.

Photo credit: Government of Trinidad and Tobago.  

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