Trinidad & Tobago has signed agreements with oil and gas companies covering two large tracts off the northeast coast of Trinidad.
The country awarded a production sharing contract on Block 2(c) to the BHP Petroleum (Trinidad) Inc. unit of Australia's Broken Hill Pty. Co. Ltd. and the Elf Petroleum Trinidad BV unit of France's Elf Aquitaine.
Block 2(c) covers 127,920 acres in 130 ft of water about 20 miles offshore.
BHP Trinidad will operate the block with a 70% interest, and Elf will hold 30%. The companies agreed to collect 3D seismic data on the tract and drill at least one wildcat during a 3 year exploration period.
BHP and Elf won negotiating rights for the acreage in August 1995, following conclusion of a bidding round the previous June 30.
Trinidad & Tobago also awarded negotiating rights to Block 2(ab) to BHP Trinidad and Talisman Energy Inc., Calgary. The block covers 329,900 acres between Block 2(c) and Trinidad.
The award follows conclusion of a bidding round last January 1996.
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