Trinidad Seeks Onshore Oil Exploration Bids to Boost Production

Trinidad and Tobago will allow onshore oil bids next month as it seeks to ramp up production on the Caribbean island, Energy Minister Kevin Ramnarine said.

At least three blocks will be opened up for auction by the middle of February, Ramnarine said yesterday in a speech in Port of Spain.

“The land based bid round is the first since the late 1990s and is a key component in our strategy to arrest the decline in oil production,” Ramnarine said, according to a transcript of the speech posted on the Ministry’s website today. “Already there has been interest both at home and abroad.”

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