by TREVOR YEARWOOD

GOVERNMENT IS LOOKING to award contracts by year-end for oil companies to drill in deep waters off Barbados.

Minister of Energy and the Environment Elizabeth Thompson made the disclosure yesterday at Hilton Barbados, addressing the 7th meeting of the task force working on a regional energy policy.

"Barbados will start the award of bid blocks to drill in our deep shore marine space around the end of this year,"she reported.

"It is believed that there is a reservoir of oil that lies in our waters. An oil find will have significant beneficial impact for Barbados."

In May, general manager of the Barbados National Oil Company Limited (BNOC), Ron Hewitt, said Barbados was about to put a number of offshore blocks up for tender.

This move was based on what he called "excellent geophysical and seismic data" from a well that United States major Conoco/Phillips drilled 70 miles south-west of Barbados in late 2001.

Hewitt had reported that oil companies were "camping on our doorstep", waiting for information pertaining to the blocks.

Thompson also said Government was in discussion with Trinidadian entities for construction of a natural gas pipeline to run from Tobago to Barbados. It will run through the Eastern Caribbean and up to the French dependencies, she added.

"Cabinet is expected to sign off on this soon," she said.

At the meeting, the minister also underscored the need for some common approach "so that we benefit from having two oil-rich southern neighbours – Trinidad and Venezuela".