BRIDGETOWN, Barbados, The Barbados government says the offshore licensing round that was initially scheduled to have been launched earlier this month will now take place in the first quarter of 2023.
The Ministry of Energy and Business said that “based on the fact that several companies have requested additional time to evaluate the acreage and data,” the government has made the “difficult decision to postpone the permit round for this short period to comply with those requests and to address critical make changes to the legislative and licensing frameworks that will enable the country to improve the efficiency and ease of doing business within the sector.
“Barbados continues to be encouraged by the sustained interest shown in its offshore acreage and remains unwavering in its commitment to partnering with industry pioneers to realize its offshore petroleum potential.”
The Mia Mottley administration, in offering a “sincere apology for any inconvenienced caused” by the postponement,” said it welcomes further” engagement, cooperation and dialogue with industry on issues related to the licensing round.”
The auction will open 22 offshore blocks to bids from international oil companies.
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