en.Wedoany.com Reported - The government of Barbados recently announced that seismic surveys and technical assessments indicate its offshore areas may contain over 13 billion barrels of oil and more than 40 trillion cubic feet of natural gas, and is conducting direct negotiations for exploration licenses covering 19 offshore blocks.

Jamar White, Director of Natural Resources in Barbados, stated that assessments suggest the offshore area may hold over 13 billion barrels of oil and more than 40 trillion cubic feet of natural gas. These figures do not represent proven reserves but indicate potential resources, which require exploratory drilling to determine the existence of commercially viable oil and gas. Neighboring Guyana's Stabroek Block holds over 11 billion barrels of oil equivalent resources, with production nearing 1 million barrels per day.

This direct negotiation covers 19 available blocks, totaling 62,643 square kilometers, including three newly established ultra-deepwater blocks. The pre-qualification period runs from June 1, 2026, to September 1, 2026; direct negotiations are scheduled from June 15, 2026, to January 15, 2027; and block awards are planned from July 15, 2026, to February 15, 2027. Participating companies must demonstrate legal, technical, and financial capabilities, and meet health, safety, environmental, climate, and local content standards. Acting Prime Minister and Minister of Energy, Business Development, and Trade, Kerrie Symmonds, stated that Barbados seeks partners with deepwater capabilities and stringent environmental standards.

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