Oil hope for Barbados
Barbados has initialled an exploration licence with the international oil exploration giant BHP Billiton to begin the search for oil and gas off-shore.
This disclosure came today from Minister of Finance Chris Sinckler as he delivered a ministerial statement on the economy in the House of Assembly.
Sinckler said Prime Minister Freundel Stuart, in his capacity as Minister of Energy, would make a public announcement shortly on this new arrangement. He added that the principals of BHP Billiton would sign the formal documents at a public event.
“With the new strategic off-shore oil exploration policy framework in place, it is expected that within the coming months, other similar licences will be signed following the appropriate tendering process,” he disclosed.