Bid to increase oil production
Local oil production will increase in the coming months.
Chairman of the Barbados National Oil Company Limited (BNOCL), Alex McDonald, made this announcement after a media conference earlier this week at the launch of the Barbados National Terminal Company Limited in Fairy Valley, Christ Church pipeline maintenance project.
McDonald said the oil company was in the preparation and consultation phase of a programme that would lead to an increase in production.
“Our oil production has been constant for the last three years but we are looking to increase,” he said. “This would be done through a process of secondary recovery which would make the wells more efficient. Unwanted materials in the well, like sand and other materials clogging it, will be removed.
“The price of oil is really low globally. You want to make sure you start pulling your assets when the price of oil goes up and try to be more efficient when it is low,” McDonald added. (SB)
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