The Natural Resources Department within the Ministry promotes and provides policy, legislative and regulatory oversight with respect to the exploration, development and production of Barbados’ onshore and offshore hydrocarbon resources.
Oil and Gas
Overview
Onshore Oil and Gas Exploration, Development and Production
- Monitoring, compiling and evaluating petroleum data;
- Monitoring and regulating all onshore exploration, development and production activities;
- Advising on exploration and development drilling practices;
- Monitoring and studying reservoir behaviour;
- Developing onshore oil and gas policy, legislation and standards;
- Determining petroleum royalty payments;
- Assessing applications for new wells, well perforations and completions;
- Legislative Review and Reform
Offshore Oil and Gas Exploration, Development and Production
- Advising on matters relating to offshore oil and gas exploration, development and production;
- Monitoring and regulating all offshore exploration, development and production activities;
- Developing offshore oil and gas policy, legislation and standards;
- Analyzing and interpreting energy, geological and geophysical data.
- Marketing Barbados’ offshore acreage through targeted public relations campaigns and the execution of licensing rounds and direct negotiations;
- Licensing offshore acreage to International Oil Companies;
- Expanding the offshore data coverage through new geological and geophysical surveys;
- Managing and maintaining the security of all seismic, geological and well data.
