Barbados Sets Conditions for Offshore Drilling

Wednesday, January 24, 2007
Any oil company wishing to tap into the oil reserves off the coast of Barbados has to comply with some strict guidelines the Government is laying down. In introducing the draft National Energy Policy to the House of Assembly, Minister of Energy and the Environment, Elizabeth Thompson, stated that a number of oil companies, including the big multinationals, smaller operations and some newcomers, had expressed an interest in getting involved in Barbados' oil industry. Thompson stated that these companies had to make sure they trained and educated Barbadians at all levels of the industry, and locals should also be given an opportunity to invest in these firms. She added that the company must also have a strong track record in environmental protection, and "must exhibit a degree of seriousness and have clout in the marketplace so they can get a drilling rig off the coast of Barbados when required". On that point, she said Barbados would have no time for companies with no intention of drilling, who purchased bid blocks and held onto them indefinitely until they could resell them on the international market. With regard to onshore drilling, the Member of Parliament for St. James South stated that Government had been mandated to explore other areas besides the Woodbourne field for energy resources. She said the equipment used to take soundings to determine whether oil was present, was not as effective on coral stone as it was on other geological structures, but it could be done and Barbados would explore its reserves using current seismic data and would try to gather further information. Source: Barbados Advocate

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter January 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Volvo Penta Debuts Innovative Glass Cockpit

The new generation of Glass Cockpit expands Volvo Penta’s collaboration with Garmin for an advanced monitoring and control system that makes boating easier. And its clever application,

Long Beach sees Robust Container Growth

The Port of Long Beach kicked off the New Year by logging its seventh straight month of cargo increases, showing a 24.8 percent jump in container shipments over the same month last year.

Maersk Drilling Posts Record Profit

Maersk Drilling delivered the best result ever with a profit of USD 751m (USD 478m) in 2015 generating a ROIC of 9.3% (7.1%). The result was positively impacted

Offshore

Maersk Drilling Posts Record Profit

Maersk Drilling delivered the best result ever with a profit of USD 751m (USD 478m) in 2015 generating a ROIC of 9.3% (7.1%). The result was positively impacted

Update on Seagull Mobile apps for Crew

The Seagull mobile app for crew training status is set to revolutionise the way seafarers track their training records and receive critical safety alerts, by making

Neptune Awarded Kitan Contract

Neptune has been awarded an air diving services contract by Technip Oceania Pty Ltd (“Technip”) for the Kitan disconnection project. The project is offshore

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Salvage Ship Electronics Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0921 sec (11 req/sec)