Minister of State in the Ministry of Foreign Affairs and Foreign Trade Sandra Husband announced during Monday’s opening of the three-day Energy Local Content Workshop & Share Fair, at the Lloyd Erskine Sandiford Centre, that interested companies will be invited to nominate acreage from available blocks, for inclusion in the building process.
She indicated that recently, at the international meeting for Applied Geoscience and Energy, held in August in Houston, Texas, the Ministry of Energy and Business formally announced its plans to launch the Offshore Licensing Round.
“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 said.
Also announcing that the Barbados Energy Local Content Project has registered rapid progress since its implementation in April this year, Minister Husbands said that benefits of the project are already evident.
According to her, as a result of the project, for the first time, energy stakeholders in Barbados are actively engaged and coordinated in exploring how to cooperate and collaborate with the Government, to ensure that the emerging industry opportunities yield new economic gains and decent incomes for Barbadians.