2005/6 bid
round: 9 firms bid for drilling rights
By Roxanne Stapleton
Trinidad Express
Port
Spain
Petroleumworldtt.com
12 03 06
NINE COMPANIES yesterday vied for onshore and nearshore
blocks in Trinidad and Tobago, at the close of the
2005/6 competitive bid round.
While
there were a couple energy players who've become
staple to this country's drilling and exploration
landscape, the majority of bidders yesterday are
fresh to the local scene.
A
consortium of Canada-based, Husky Energy and Canadian
Voyager Energy submitted bids for the Central Range
(in the Southern Basin) shallow and deep horizon
blocks and the Guayaguayare shallow and deep horizon
blocks.
Also
bidding for Guayaguayare shallow and deep was Hardman
Oil and Gas PTY.
For
the South West Peninsula shallow and deep horizon
blocks Trinidad Exploration Development Unlimited
was the single bidder.
Block
NCMA 2 which is located off the North Coast-there
were bids from Centrica Energy, ONGC Mittal and
a consortium consisting of BG Trinidad and Tobago,
Petrocanada and ENI.
Block
2 (ab) which is situated off the East Coast-bids
were submitted by Canadian Superior, Repsol and
a consortium of Hardman Oil and Gas PTY and Centrica
Energy.
No
bids were received for Herrera shallow and deep
horizon blocks and Block NCMA 3.
Ministry
of Energy officials said they were pleasantly surprised
at the number of bids submitted, adding that from
the volume of bids received in that round, it is
anticipated that local exploration activity will
continue to thrive.
Acting
Permanent Secretary at the Ministry of Energy, Margaret
Parillon explaining the new production sharing contracts
said: "The new regime differs from the previous
in that the contractor will be required to pay its
own taxes and a consolidation of profits and losses
offered.
"Also
significant, is the fact that the mechanism for
determining the Government's profit share has been
revised."
She
assured that the technical evaluation and overview
committees will review all bids "expeditiously"
before submitting its recommendation to Cabinet.
The
announcement of successful bids for the award of
PSCs will take place in the first quarter in 2007.
Trinidad
Express
Friday, December 1st 2006
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©2006 Trinidad Express. All Rights Reserved.
