Commodities

Trinidad launches round to allocate up to 17 deepwater oil blocks

1 minute read

PORT OF SPAIN, Dec 3 (Reuters) - Trinidad and Tobago on Friday officially launched its 2021 competitive bid round for 17 deepwater oil blocks located off the Caribbean country's northern and eastern coasts, the energy minister said.

The period for submitting offers for exploration and production rights in the areas will end on June 2, with final results on blocks allocated revealed about three months later, Energy Minister Stuart Young said in a statement.

The blocks put on offer were selected based on technical evaluation as well as proximity to current deepwater developments in Trinidad.

Young did not disclose names of companies interested.

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Reporting by Linda Hutchinson-Jafar; Writing by Marianna Parraga; Editing by Will Dunham

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