The 2023 Shallow Water Competitive Bid Round has been launched.

The Bid Round will be open for six months, with the deadline for submissions being noon on April 2nd 2024.

Speaking at the launch today, Energy Minister Stuart Young said Government intends to announce successful bidders within four months of that date.

13 blocks are being offered: Block 1(b), Block 2(ab), Block 2(d), Block 21, Block 22(a), Block 22(b), Block 4(c), Guayaguayare (Offshore) Block, Block Lower Reverse L, Block Modified U(c), Block NCMA 2, Block NCMA 3 and Block NCMA 4(a), located in the shallow water area off the coasts of Trinidad and Tobago.

Mr Young adds that blocks are being offered via production sharing contracts, with the Minister’s Share of Profit Petroleum and the minimum work obligations as biddable items.

The blocks were selected based on the technical evaluation of their prospectivity by an internal evaluation team and nominations by stakeholders.