Trinidad and Tobago has received a total of 16 bids for oil and natural gas exploration and development at eight onshore and nearshore blocks in its most recent bidding round. Out of 11 areas offered in this round, 8 attracted bids and the St. Mary's block (southern Trinidad) alone received four bids. Primera Oil and Gas, a subsidiary of Canada’s Touchstone Exploration, submitted the most bids, for five blocks, namely Cipero, Tulsa, Charuma, St Mary's and Guayaguayare Onshore.
The bids were submitted by small energy firms, including Hunter Resource Corporation, Eco Oil and Gas Solutions and Challenger Energy Group. The round's winners are expected to be announced in April 2023. Companies which submitted bids must file technical and commercial evaluation proposals, a minimum work programme, minimum expenditure obligations and a signing bonus. If successful, the winners will receive an exploration and production license within 30 days of notification of their offer acceptance.
Trinidad and Tobago’s last onshore oil and gas blocks auctions dates back to 2012. The country is developing a strategy to boost its exports of LNG, ammonia and petrochemical products. Trinidad has three liquefaction trains in service (15.3 Mt/year) and 11 ammonia plants with a total production capacity of 5.2 Mt/year. In 2021, Trinidad and Tobago produced more than 26 bcm of natural gas and exported 9.4 bcm. The country produced around 4 Mt of crude oil and exported 3 Mt. It has 243 mbl of proved oil reserves and 274 bcm of proved gas reserves (2021).
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