Award Of Block Ncma 2 Production Sharing Contract To Bp Exploration Operating Company Limited (BPEOC)

Ministry of Energy and Energy Industries release

The Ministry of Energy and Energy Industries (MEEI) announces that a negotiated Production Sharing Contract (PSC) for Block NCMA 2 has been signed between the Government of the Republic of Trinidad and Tobago and the successful bidder, BP Exploration Operating Company Limited (BPEOC). The signing took place on 19th November, 2024 at the Ministry of Energy and Energy Industries’ International Waterfront Complex, Head-Office, Port-of-Spain.

The award of this PSC stems from the Ministry of Energy and Energy Industries’ Shallow Water Competitive Bid Round 2023/2024 which was opened on 2nd October 2023 and closed on 27th May 2024.

At the signing of the PSC, The Honourable Stuart R. Young S.C., M.P. Minister of Energy and Energy Industries and Minister in the Office of the Prime Minister stated that, “The Ministry of Energy and Energy Industries continues to aggressively market and execute concessions to promote exploration and investment in the upstream. This marks the second PSC signed in record time in 2024 and the Ministry of Energy and Energy Industries is committed to working with upstream operators to boost the supply of hydrocarbons and secure Trinidad and Tobago’s energy future.”

Block NCMA 2 is situated in the North Coast Marine Area (NCMA) in water depths of approximately 200 meters. Entry into this block marks a significant milestone for BPEOC, as it represents the operator’s first endeavour into the North Coast region.

Also present at the signing were, Mrs. Penelope Bradshaw-Niles, Permanent Secretary at the Ministry of Energy and Energy Industries; Ms. Sandra Fraser, Permanent Secretary at the Ministry of Energy and Energy Industries; and Mr. David Campbell, President bpTT. BP Exploration Operating Company Limited (BPEOC) and bpTT are both subsidiaries of BP Global.