The Energy Chamber of Trinidad and Tobago anticipates there will be a much more positive response to the current thirteen shallow water blocks on offer, compared to the previous bid round.
It is hoping this is accomplished notwithstanding the highly competitive international market for upstream exploration capital.
The challenge for the Ministry and the industry the Chamber said now will be to ensure production sharing contracts are issued as quickly as possible after the close of the bid round on April 2nd 2024.
It anticipates the licenses for the onshore blocks awarded in June this year will be issued shortly, so that activity on the blocks can be initiated.