A consortium of bp plc and Shell plc has been awarded three deep water blocks offshore Trinidad and Tobago by the Minister of Energy and Energy Industries.
The Ministry of Energy and the consortium have been engaged in negotiations over terms and conditions of the production sharing contracts because the blocks require different and novel considerations due to the nature of the expected exploration and possible future production, the regulator said in a release Sept. 21.
The parties will sign the contracts Sept. 26, 2023.
