Survey finds gas potential off Barbados

By Shamar Blunt

International oil and gas explorer giant Woodside Energy has found significant prospects for natural gas and potential for oil off Barbados in its assessment of offshore fossil fuel reserves.

Director of Natural Resources in the Ministry of Energy and Business Jamar White gave that update in the well of Parliament on Monday, as debate on the 2023/2024 Estimates of Expenditure and Revenue continued on Monday.

His comments came less than a week after Senior Minister for Coordinating the Productive Sectors Kerrie Symmonds said the likelihood of hydrocarbons being found offshore Barbados was high, based on studies underway to evaluate the island’s offshore potential.

White told those gathered in the House of Assembly that after three years of Woodside Energy exploring a significant area of Barbados’ coast for oil and gas, it has made promising progress.

“They completed a 2 600-square kilometre 3D seismic survey offshore Barbados in an effort to better understand what the prospectivity was. From what we are hearing – and we are awaiting official notice from the company – but what we are hearing is that the results look very encouraging,” White said. 

“We are aware of the National Energy Policy which speaks of offshore resources for export, and the studies indicate that we are very prospective for natural gas offshore because of where we are located [and] because of other tests and studies that have been done.

“With that natural gas, we believe that we have a substantial resource that can help us to not only power the country but provide resources for export in the future,” he added.

White said that Woodside has also partnered with multinational oil and gas company Shell to increase the exploration possibilities of oil and gas being discovered, which is another promising sign.

“We seem to be very prospective for natural gas. There is also an associated potential for oil as well, and with Shell coming on we believe that we will have some very encouraging signs as we move forward,” the Director of Energy said.

Last year, the Government opened the bidding process on 22 blocks in Barbados’ waters to attract international oil firms to its potential offshore deposits. 

(SB)