PANAMA CITY, PANAMA (Piero Stewart, Energy Analytics Institute, 29.Jan.2025) — Trinidad and Tobago’s Ministry of Energy and Energy Industries (MEEI) awarded Blocks NCMA 4(a) and Lower Reverse L to Houston-based EOG Resources Limited.
“EOG continues to be very important to the fabric of the energy sector here in Trinidad and Tobago. We saw through the results of the Shallow Water Bid Round and the operators are invested in Trinidad and Tobago,” MEEI head Stuart R. Young said 29 Jan. 2025 in an official ministry statement.
“We at the Ministry of Energy and Energy Industries have to continue to ensure the relationship is as we have built it to be, with open communication and then we proceed to get more done,” Young said.
Block NCMA 4(a) is located in the North Coast Marine Area (NCMA) in water depths of 100-200m. Entry into NCMA marks a significant milestone for EOG, as it ventures into an area predominantly operated by other companies, the MEEI said.
Block Lower Reverse L is located off the South East Coast of Trinidad in water depths of 80-200 m. It is in close proximity to existing EOGRTL infrastructure and existing producing assets.
Execution of these PSCs signifies the potential for increasing the hydrocarbon reserves in Trinidad and ensures local development and economic growth through the payment of financial obligations by EOG to the government for research and development, training of nationals and scholarships, the MEEI said.
Shallow water competitive bid round
The shallow water competitive bid round invited petroleum companies to submit bids for shallow water blocks off the north, east and west coasts of Trinidad and the west coast of Tobago, the MEEI said in its statement.
Award of these PSCs stems from the Shallow Water Competitive Bid Round 2023/2024, opened on 2 Oct. 2023 and closed on 27 May 2024.
At that time, EOG submitted bids for 3 Blocks: (1) NCMA 4(a); (2) Modified U(c); (3) and Lower Reverse L. Said bids were evaluated by the cabinet-appointed technical evaluation committee and overview committee made up of MEEI senior staff, persons from the Office of the Attorney General and Ministry of Legal Affairs as well as the Ministry of Finance.
Cabinet approved EOG as the preferred bidder for Blocks NCMA 4(a) and Lower Reverse L with preferred bidder notifications sent to EOG on 23 Aug. 2024. EOG accepted the MEEI’s offer to enter negotiations on 27 Aug. 2024 and negotiations commenced on 11 Sep. 2024. Upon successfully negotiating mutually beneficial improvements to the PSCs, Cabinet approved the award of the PSCs on 18 Dec. 2024.
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By Piero Stewart reporting from Panama City. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.