T&T launches deep-water bid round

Bid round: six block up for auction in Trinidad & Tobago

REUTERS/SCANPIX

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By News wires

 23 April 2012 23:01 GMT

Trinidad & Tobago's 2012 deep-water bid round for six oil and gas blocks began on Monday with strong international interest, from international oil and gas companies, Energy Minister Kevin Ramnarine said.

Ramnarine said the bid round, which closes at the end of July, carries "the hope and future of the national energy sector" as there is major potential for hydrocarbon discoveries in the marine acreages off the northeast and eastern coast of the twin-island Caribbean state, Reuters reported.

The blocks, located in water depths of between 2000 and 11,500 feet (600 and 3,500 metres) were also close to proven oil and gas fields. A government-commissioned study also showed reservoirs in the deep waters containing significant quantities of oil and gas.

The official launch of the bid round followed a…

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