IN THE MIDST OF encouragement and caution from Norwegian geological experts, Barbados is about to make a fresh bid to cash in on the search for oil and gas offshore.
Government will open the door for the international oil industry to bid on seven blocks between June and December. Successful applicants will be awarded eight-year licences permitting them to drill for hydrocarbons deep in the island’s waters.
Australian giant BHP Billiton has already been awarded two blocks – Carlisle Bay (2 498 square kilometres) and Bimshire (2 506 square kilometres).
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