Trinidad and Tobago closes deepwater bidding round

PORT OF SPAIN, September 18, 2025 – Trinidad and Tobago received four bids from three companies in its 2025 Deep Water Competitive Bidding Round, the Ministry of Energy and Energy Industries said on Wednesday.

CNOOC International submitted bids for three blocks – TTDAA 24, TTDAA 25 and TTDAA 30 – while a consortium of STIT Energy and GROUNDPORTS Limited bid on Block TTDAA 5. The bidding round, which closed on 17 September, aimed to attract new investment in the country’s underexplored deepwater acreage.

Block TTUD1, part of the ultradeepwater area, was excluded from the round due to prior negotiations with ExxonMobil. A production sharing contract for that block was signed on 12 August 2025.

“Upon taking office, this Government clearly understood the importance of restoring investor confidence by encouraging further investment,” minister of energy and energy industries Roodal Moonilal said.

“I look forward to the announcement of the outcome of the bid evaluation process within the next three months.”

Minister Ernesto Kesar said the country would review fiscal incentives to enhance its competitiveness and improve seismic data coverage through ongoing engagement with multi-client partners.

STIT Energy is a fully indigenous Nigerian oil and gas service company with expertise in both conventional and unconventional exploration and production. It has been involved in upstream operations across Nigeria and has been expanding its international footprint through strategic partnerships.

GROUNDPORTS is a privately held company based in Trinidad and Tobago, active in the country’s energy sector. While specific operational details are limited, it is known to partner with international firms on upstream ventures and has participated in government-led initiatives in hydrocarbons development.

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