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During the ninety (90) day period for submission of Competitive Proposals, will companies which have already submitted proposals for a given block be allowed to withdraw their original proposals and submit an improved or amended application?Companies which have submitted proposals (initial or competitive) for a given block will not be allowed to withdraw their applications…

Companies which have submitted proposals (initial or competitive) for a given block will not be allowed to withdraw their applications to submit an improved or amended proposal during the prescribed ninety (90) day period.

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Will the submission of multiple competitive proposals for a particular block result in the 90-day deadline being extended? No. All competitive proposals submitted in respect of a particular block will be subject to the original 90-day deadline.

No. All competitive proposals submitted in respect of a particular block will be subject to the original 90-day deadline.

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It is noted that the deadline for submission of new licence proposals is December 30, 2015. In the event that an application is submitted on the deadline date, will a Request for Competitive Proposals still be issued? Yes, a Request for Competitive Proposals will still be issued. Pursuant to the issue of a Request for Competitive Proposals,…

Yes, a Request for Competitive Proposals will still be issued. Pursuant to the issue of a Request for Competitive Proposals, interested companies will be afforded the full 90-day timeframe to submit a competing proposal, irrespective of the December 30, 2015 closing date. For example, in a case where a Request for Competitive Proposals is issued on December 30, 2015, the deadline date for submission of competitive proposals will be March 29, 2016.

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Will the industry also be notified of the submission of competitive proposals?Once a competitive proposal is received from a pre-qualified company, the Division of Energy and Telecommunications will release a formal…

Once a competitive proposal is received from a pre-qualified company, the Division of Energy and Telecommunications will release a formal notice via its website notifying interested companies of the receipt of a competitive proposal.

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What happens when a new License proposal is submitted for a particular block?The Division will issue a formal “Request for Competitive Proposals”, granting other interested companies a maximum period of ninety (90)…

The Division will issue a formal “Request for Competitive Proposals”, granting other interested companies a maximum period of ninety (90) days to submit a competing proposal for the same block.

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Bearing in mind the closing date of December 30th, 2015 for the submission of new licence proposals, what is the most likely timeframe for blocks to be awarded to successful candidates? Further to Section 2.3 and subject to Section 4.3 of the “Invitation to Submit Proposals for Offshore Exploration Licenses”, blocks…

Further to Section 2.3 and subject to Section 4.3 of the “Invitation to Submit Proposals for Offshore Exploration Licenses”, blocks will be awarded to successful applicants during the period September 30th 2015 to June 30th 2016.

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Will the Government of Barbados have a dedicated booth at the AAPG Convention in Denver where interested companies can get more specific information on the 2015 Licensing Campaign? The Government of Barbados will have a dedicated booth at the 2015 AAPG Convention in Denver, Colorado. Barbados will be…

The Government of Barbados will have a dedicated booth at the 2015 AAPG Convention in Denver, Colorado. Barbados will be located at booth #2221 in the International Pavilion. Please feel free to visit the booth should you require any information on the 2015 Licensing Campaign.

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Has the fiscal regime been established for this campaign?The fiscal regime has been established for the 2015 Campaign. Please refer to the Offshore Petroleum (Taxation) Act 2007 and…

The fiscal regime has been established for the 2015 Campaign. Please refer to the Offshore Petroleum (Taxation) Act 2007 and the Offshore Petroleum Taxation (Amendment) Act 2012 for further details.

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Where can we find information on the content and the price of the Barbados Offshore Data Package?Information relative to the cost and content of the Barbados Offshore Data Package will be released via this web portal…

Information relative to the cost and content of the Barbados Offshore Data Package will be released via this web portal during the week of April 13, 2015.

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