Trinidad and Tobago round gets one bidder

Curtis Williams
OGJ Correspondent

PORT OF SPAIN, Dec. 20 -- The latest bid round for the Trinidad Deep Atlantic Area received only one bid, the fewest since production-sharing contracts were introduced in the 1990s.

Statoil ASA submitted a bid for the TDAA Block 5. The Trinidad and Tobago government promised that it would make a decision within 3 months on Statoil's bid.

Eleven other oil companies paid for 2D seismic data on deepwater blocks but did not offer any bids.

The eight blocks involved in the bid round were in 1,700-2,500 m of water and adjacent to areas from which most of Trinidad and Tobago's oil and gas are produced. The area has not been explored.

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