Barbados is making a major push to attract big-name energy companies like ExxonMobil, Shell, and BP to explore its offshore waters. Energy Minister Kerrie Symmonds announced the country is offering 19 deepwater blocks for bidding, citing estimates of up to 13 billion barrels of oil and 40+ trillion cubic feet of natural gas. Bids are due by early September.
The push is largely inspired by Guyana, which is approaching 1 million barrels per day after seven years of production, and neighboring Suriname, which expects to start pumping oil in 2028. Both countries transformed from bauxite/rice/gold exporters into petroleum economies, and smaller Caribbean nations are taking notice.
Other countries joining the hunt:
- Jamaica — UK-based United Oil and Gas confirmed positive piston core samples from offshore surveys and is seeking a major partner
- Grenada — reviewing old seismic data to attract exploration companies near Trinidad’s rich blocks
- Trinidad and Tobago — already oil-rich, with fresh ExxonMobil interest in ultra-deep blocks
The common thread is that Guyana’s success has made the entire region look more geologically promising to investors.