The Ministry of Energy and Business of the Government of Barbados announced the postponement of the Barbados 2022 Offshore Licensing Round. The bid round was originally scheduled to commence on December 1, 2022.
The Offshore Licensing Round will now be launched in Q1, 2023.
The Ministry indicated that several companies have requested additional time to evaluate acreage and data. In response, the Government of Barbados made the difficult decision to postpone the licensing round for this short period to satisfy those requests, and to complete critical amendments to the legislative and licensing frameworks that will allow the country to improve efficiency and ease of doing business within the sector. regional.
In a release, the Ministry of Energy and Business said “Barbados continues to be encouraged by the sustained interest shown in its offshore acreage and remains staunchly committed to partnering with industry pioneers to realise its offshore petroleum potential.
The Barbados government has apologised for any inconvenience caused and welcomes further engagement, collaboration, and discourse with the industry on matters relating to the licensing round.”