The Barbados Licensing Offshore Round, which began promotion in 2007, came to a close on September 30, 2008 with bids submitted by three companies.
During the program many international oil companies showed great interest in the frontier area and engaged the Government of Barbados by making presentations, purchasing 2D seismic data and utilization of the Energy Division's Data Room for closer evaluation of Barbados' offshore seismic and prospectivity data.
Some of these large companies included Borders and Southern, BHP Billiton, BP, Exxon-Mobil, Hess, Newfield, Petrobras, Shell and Statoil.
Of the companies that submitted pre-qualification documents, four of these passed the initial screening.
On the closing date of September 30, 2008, three companies made bid submissions. Companies, who had previously shown interest, indicated that their last minute non-submission was not due to quality of the prospects but rather the recent economic upheaval in the US market and worldwide fiscal uncertainty.
The three companies who submitted bids were:
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