confidential, off the record
Barbados's Trouble waters
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
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
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.
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