Barbados moves toward offshore oil and gas exploration

Barbados is set to begin drilling for potentially billions of barrels of oil and natural gas as early as next year.

Minister of Energy and Business and Acting Prime Minister Kerrie Symmonds announced the major oil exploration initiative, which is being touted as having the potential to inject billions of dollars in direct revenue into the country’s economy while strengthening national energy security.

The development could also reduce Barbados’ dependence on imported oil and natural gas.

Minister Symmonds made the announcement during the launch of the 2026 Offshore Direct Negotiations Programme, which involves the licensing of 19 offshore blocks around Barbados for the exploration of hydrocarbons.

He noted that the initiative represents a significant step in the country’s efforts to identify and develop indigenous energy resources, while creating new opportunities for economic growth and investment.