Trinidad and Tobago closes 2025 deepwater competitive bidding round
Trinidad and Tobago’s Ministry of Energy and Energy Industries (MEEI) has officially closed its 2025 Deepwater Competitive Bidding Round, marking a key milestone in the nation’s upstream oil and gas sector. The round, launched on Jan. 27, 2025, offered 26 offshore blocks across the eastern and northern coasts and closed on Sept. 17.
Two bids were submitted: CNOOC International Limited placed offers on three blocks, while the STIT Energy–GROUNDPORTS consortium bid on one. The bids will now undergo review by a Technical Evaluation Committee, with assessments expected to conclude within three months. Production Sharing Contracts (PSCs) will then be executed with successful bidders.
The offered acreage included highly prospective blocks in the TTDAA deepwater area and other frontier zones. Contracts will follow Trinidad and Tobago’s 2025 Model PSC, which has been vetted to align with international standards and ensure equitable revenue sharing for the government and investors.
Officials emphasized that the bidding round underscores ongoing investor interest in Trinidad and Tobago’s deepwater potential, even amid global competition for capital. The country’s fiscal framework and regulatory clarity were highlighted as factors designed to attract international operators to its underexplored offshore basins.
With evaluation underway, the government expects the bid round to generate momentum for future exploration drilling and long-term upstream investment, reinforcing Trinidad and Tobago’s role as a key hydrocarbons producer in the Caribbean region.
