Trinidad's Shallow Water Auction: BP, Shell, EOG Reportedly Placed Bet Lured By New Terms
Portfolio Pulse from Lekha Gupta
BP, Shell, and EOG Resources have placed bids in Trinidad and Tobago's 2023 shallow water auction, which closed with no other bidders. The auction saw bids for four blocks, with winners to be announced in four months. Trinidad's government had revised fiscal terms to attract more bids after a failed 2019 round.
May 28, 2024 | 10:42 am
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POSITIVE IMPACT
BP has placed bids on two blocks in Trinidad's 2023 shallow water auction, reflecting interest in the region's revised fiscal terms.
BP's participation in the auction indicates a strategic interest in Trinidad's oil and gas sector, potentially boosting future revenues.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
EOG Resources has placed bids on three blocks in Trinidad's 2023 shallow water auction, showing strong interest in the region's revised terms.
EOG's multiple bids suggest a significant commitment to expanding its operations in Trinidad, potentially leading to increased production and revenues.
CONFIDENCE 95
IMPORTANCE 75
RELEVANCE 90
POSITIVE IMPACT
Shell has placed a bid on one block in Trinidad's 2023 shallow water auction, indicating continued investment in the region.
Shell's bid reflects its ongoing commitment to exploring and producing in Trinidad, which could enhance its resource base and revenues.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70