Photo: Hon. Mia Mottley speaking at the T&T Energy Conference in 2020
Minister of State in Foreign Trade and Business, Sandra Husbands has announced that Barbados will open its Offshore Licensing Bid Round in the coming months.
Speaking at the opening of a three-day Energy Local Content Workshop, Minister Husbands said that the Ministry of Energy and Business plans to launch the Barbados 2022 Offshore Licensing Round on December 1, 2022.
She said “Interested companies will be invited to nominate acreage from available blocks, for inclusion in the bidding process. The upcoming licensing round presents an opportunity to explore the island’s untapped deep-water potential under a competitive legal, fiscal and regulatory framework.”
She added, “The new global economy is being driven by renewable energy, energy ownership, and energy investment. These realities and the need to make local businesses viable to compete on the international market help to inform the mandate of the Barbados Energy Local Content Development Project.
“However, the ultimate goal is to ensure that the country’s transition from fossil fuels to 100 per cent renewable energy sources is realised. This way, we can ensure that all Barbadians have access to energy that is reasonably priced, reliable, and sustainable,” she explained.
