(Trinidad Express) The Ministry of Energy will on Monday launch a deep-water competitive bidding round for oil and gas exploration in six blocks off the coast of Trinidad.
On March 29 this year, Cabinet approved the Ministry of Energy to enter into the 2010 Deep Water Bidding Round.
The Petroleum Regulations Deep Water Competitive Bidding Round 2012 was signed by Minister of Energy Kevin Ramnarine on April 5 and gazetted as Legal Notice No 48 of 2012, the ministry said yesterday.
Government has granted approval for the conduct of a Deep Water Competitive Bidding Round in 2012 in the Trinidad and Tobago Deep Atlantic Area (TTDAA).
The areas offered under this bid round comprise six blocks, located in the deep-water marine area off the north-eastern and eastern coasts of Trinidad and Tobago.
The blocks are TTDAA 1, TTDAA 5, TTDAA 6, TTDAA 28, TTDAA 29 and Block25 (a).
The blocks, on average, exceed 100,000 hectares and are located in water depths ranging from 600 metres to 1,500 metres, the ministry said.
The launch will take place at the Hyatt Regency (Trinidad), Port of Spain, from 10 a.m. on Monday.