22-06-09 Barbados's government and BHP Billiton are finalizing contract details for blocks awarded in January, an official from the Caribbean country's finance, economic affairs and energy ministry told.
The company was awarded offshore blocks Carlisle Bay (2,498 sq km) and Bimshire (2,506 sq km). Melbourne-headquartered BHP Billiton was one of three groups that submitted bids in September for the round, where 24 offshore blocks ranging from 790-5,025 sq km were offered.

The goal is to have a contract signed by end-July, according to the ministry's natural resources division head André Brathwaite.
The exploration contract licenses will be valid for eight years, which may be extended. A contract holder who has a commercial discovery during the license period may apply for a production license.

No decision on new round
The official said a decision has yet to be made whether a new round will be launched. A number of companies, however, have expressed interest in blocks and the ministryis evaluating each request on a case-by-case basis, Brathwaite said.
There is no offshore E&P in Barbados underway and the Barbados National Oil Company (BNOC) produces upward of 1,000 bpd from onshore fields. BNOC sends the crude to Trinidad and Tobago to be refined, after which it is brought back to Barbados. The 1,000 bpd represents roughly 15 % of Barbados's fuel requirements, the rest of which are imported.