Friday 10 July, 2020

T&T gets license to drill at two of Barbados' blocks

Prime Minister Dr Keith Rowley (left), Barbados Prime Minister Mia Mottley ahead of the signing of a unitization agreement on Tuesday.

Prime Minister Dr Keith Rowley (left), Barbados Prime Minister Mia Mottley ahead of the signing of a unitization agreement on Tuesday.

Barbados has granted exploration privileges to two of its blocks near Trinidad and Tobago’s border.

Prime Minister Dr Keith Rowley made the revelation during a media conference held at the Diplomatic Centre in St Ann’s on Thursday. It follows his two-day trip to Barbados for the 31st Inter-sessional Conference of Heads of Government of the Caribbean Community that began on Tuesday.

Ahead of the conference, both nations signed a unitization agreement for the exploration of hydrocarbon resources that straddle the maritime boundary. Providing further details into the deal, Dr Rowley explained that the contract serves as a roadmap for both countries to abide in the event that any oil or gas is found.

“In the event that the exploration is successfully identifying any commercially viable resources there, that Trinidad and Tobago and Barbados would have already agreed to extract those resources on a unitized basis meaning that if the pools cross the border from one territory to another, that we will have no difficulty in extracting whatever belongs to either territory and that such developments will allow us bring to market at a much earlier period, anything that we may find.”

“Barbados has also granted exploration licenses to two of their blocks which adjoin Trinidad and Tobago’s border,” he added.

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