Four Companies Attend Offshore Round Clarification Session

Four companies attended this month's clarification session for Barbados' offshore oil and gas licensing round, an energy and environment ministry official told BNamericas.

"The clarification session was attended by Shell, Exxon, BHP and Petrobras," the official said.

Other companies such as Tullow, Repsol YPF (NYSE: REP), Finder and PetroCanada had registered but were unable to secure a flight due to the heavy traffic in Barbados for the Crop Over Carnival.

The government is offering 24 blocks that span in total 65,248km2. The smallest block covers 790km2 and the largest 5,025km2.

The ministry plans to publish bidding rules on September 3 with bids due December 1 and winners announced December 19. Contract signing is slated for January.

There is no offshore E&P in Barbados underway and the Barbados National Oil Company (BNOC) produces upward of 1,000b/d from onshore fields. BNOC sends the crude to Trinidad & Tobago to be refined, after which it is brought back to Barbados.

The 1,000b/d represents roughly 15% of Barbados' fuel requirements with the remainder imported.

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