Trinidad & Tobago has made some awards under its 2022 Onshore and Nearshore Competitive Bid Round.
The country has not officially announced results but two companies have reported awards.
Trinity
Trinity Exploration & Production said today that the Ministry of Energy and Energy Industries (MEEI) had granted its application for the Buenos Ayres block. The company’s bid bested Hunter Resources’ offer for the block.
Trinity CEO Jeremy Bridglalsingh said the company expected better commercial and stronger legal terms than on its existing licences. “The Buenos Ayres block is highly unusual being a relatively undrilled block in what is a very mature basin setting”, he said. “We are planning to fast track the first exploration well on Buenos Ayres within the next 12-18 months, subject to acquiring environmental approvals.”
Touchstone
Touchstone Exploration said its local unit, Primera Oil and Gas, had won the Cipero onshore block.
The next step is for MEEI to begin discussions with the companies on the grant of an exploration and production licence.
The ministry told Primera that its bid for the Charuma block had failed to meet technical requirements. However, the company can hold talks with MEEI on improving the minimum work programme.
Heritage Petroleum will take a 20% stake in the Cipero block, Touchstone said.
“Although the primary geological target for the Cipero acreage is the Herrera Formation, our team has also identified additional targets within the Cretaceous,” said Touchstone CEO Paul Baay. “In addition to the execution of the licence, we will be required to conduct geological studies, reprocess existing 2D seismic data, and apply for regulatory permits prior to drilling, which is anticipated to take a minimum of three years.”
On offer
In January, the ministry said the eight blocks up for grabs had received 16 bids.
The St. Mary’s block received the most interest, with four bids. One of these offers came from Touchstone’s Primera. Other bidders were A&V Oil and Gas, Decker Petroleum & Marketing and Hunter Resources. St. Mary’s was under licence to Range Resources and Petrotrin until 2020.
Primera also missed out on the Tulsa and Guayaguayare onshore blocks.
Eco Oil and Gas Solutions made bids for Tulsa, Cipero and Guayaguayare. Challenger Energy also made a bid for Guayaguayare, but has not reported on the results yet. Hunter Resources also bid for the Buenos Ayres block and the South West Peninsula onshore. NABI Construction T&T bid for Aripero.
Reuters, in May, reported A&V had been recommended for St. Mary’s, Eco for Tulsa and Challenger for Guayaguayare and NABI for Aripero.
MEEI said it had not received bids for Cory D, Cory F and South West Peninsula Offshore.