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Trinidad to Offer Six Blocks in Deep Water Bid Round

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Trinidad and Tobago’s Ministry of Energy and Energy Affairs (MEEA) has announced that the 2012 Deep Water Competitive Bid Round is tentatively set to open on the 29th of March.

Leading up to the opening of the round, the MEEA will participate in road shows 21st – 24th of February at NAPE 2012 in Houston, 28th – 29th of February at Trinidad and Tobago Energy Trade Mission in the JW Marriot Houston, and the 8th of March at the MEEA delegation to the High Commission for the Republic of Trinidad and Tobago in London where the six selected deep water blocks nominated will be announced.

The six offshore blocks that are to be nominated and offered will come from locations in the East Coast Marine Area and Trinidad and Tobago Deep Atlantic Area (See Concession Map). This acreage offers a mix of water depths, hydrocarbon play-types and production potential.

Available Data

PGS, in conjunction with the MEEA, has acquired 6,766 km of marine MultiClient 2D data over approximately 43,000 sq. km of the Trinidad and Tobago offshore area.

PGS TOBAGO TROUGH MC2D 2008: 2,448 km of ultra-long offset, dual-sensor GeoStreamer 2D data located across 9 blocks in the West Tobago Sub-basin and Tobago Platform.

PGS DEEPWATER ECMA MC2D 2008: 1,966 km of ultra-long offset, dual-sensor GeoStreamer 2D data located across 26 blocks in the Barbados Accretionary Complex on the Trinidad and Tobago Deep Atlantic Area.

PGS NCMA-4&5 MC2D 2008: 2,352 km of high resolution 2D located across the Patao High across 2 blocks in the West Tobago Sub-basin and Southeast Tobago Sub-basin between the Tobago Platform and the Araya-Tobago metamorphic basement.

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PGS to Start Seismic Survey at Corentyne Licence, Offshore Guyana

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CGX Energy Inc.  has awarded a 1,160 square kilometre 3D marine seismic contract to a subsidiary of Petroleum Geo-Services (PGS). PGS’s Ramform Challenger will undertake the five week contract at CGX’s fully owned Corentyne PPL, offshore Guyana, commencing mid-December.

PGS is a leading geophysical services company founded in 1991 in Norway with offices in 25 countries and regional centres in London, Houston and Singapore. PGS offers a broad range of geophysical services and has 14 offshore seismic vessels.

Stephen Hermeston, President and CEO stated,

“This 3D seismic program has been designed to better image the up-dip limits of the Eagle Deep stratigraphic play at the Turonian and Campanian and to cover the two early Cretaceous, Albian prospects (Crabwood and Kabukalli) which are underlying the Company’s 100% owned Corentyne offshore Petroleum Prospecting License (PPL) and for which CGX obtained an independent resources evaluation report from DeGolyer and MacNaughton of Dallas earlier this year that provided a total best estimate (P50) of prospective resources of 325 million barrels of oil. We are enthused about these prospects which CGX plans on pursuing subsequent to the drilling of the Company’s Eagle-1 well that will test the Eocene and Maastrichtian trend.”

CGX Energy is a Canadian-based oil and gas exploration company focused on the exploration of oil in the Guyana-Suriname Basin, an area that is ranked second in the world for oil and gas prospectivity by the United States Geological Service. CGX is managed by a team of experienced oil and gas and finance professionals from Guyana, Canada, the United States and the United Kingdom.

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