Daily Archives: June 16, 2008

Venezuela Claims Two Blocks Of Barbados Offshore Oil!

Why Hasn’t The Barbados Media Reported This?

Barbados Free Press came across an article published today in an oil industry trade paper – detailing how the Government of Venezuela is claiming that two of the blocks of oil rights being offered by Barbados are in Venezuela’s waters.

The article speaks as if this fact is well known and also says that the Venezuela government will be filing a diplomatic note with Barbados and alerting the offshore oil exploration companies that are involved in the Barbados bidding process. We at BFP can’t recall ever hearing about this in the Barbados news media.

Here is the story…

Barbados’s Trouble Waters

The new government of Barbados opened the bidding process for rights to offshore blocks for oil & gas exploration on Monday and will close it on September 30. The winner announcement will be made on Nov 20th. More than 20 companies were present this week in the bid kick off, including among others, Exxon, Gazprom, Lukoil Shell, BHP Billiton of Australia, Hess Oil Company, Anadarko Petroleum Corporation, Marathon Oil and Murphy Oil, all of the United States, StatoilHydro, Petro-Canada, and Petrobras from Brazil. However, there is an issue that the IOC’s perhaps have not taken in account, that is that two of the block are in venezuelan waters, the Bottom Bay blocks Ad I and Ad II. We expect that the venezuelan government will issue a diplomatic note to the government of Barbados asking for clarification and the Venezuelan oil company PDVSA will issue a warning to the OIC’s on the issue.

from Petroleumworld News 06/16/08

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Filed under Barbados, Business, Energy, Venezuela