May 12, 2006
Exploring for oil in SVG?

“There is a firm” interested in exploring St. Vincent and the Grenadines’ maritime resources for oil and natural gas.

This was confirmed by Prime Minister Dr. Ralph Gonsalves on Friday, April 28. However, the Prime Minister declined to give any further details on the matter.{{more}}

On April 22, Dr. Gonsalves made a call at the OECS Heads of Government meeting for St. Vincent and the Grenadines and its OECS neighbours to sort out their maritime boundaries. The Prime Minister, however, made it clear to SEARCHLIGHT that this had nothing to do with the belief that oil was in our waters.

However, distinct maritime boundaries would undoubtedly be beneficial to St. Vincent and the Grenadines as they would prevent this country from having to wrangle with its neighbours in the event that oil, natural gas and other minerals are one day found in its waters.

Albert Brandford, a political correspondent with the Nation newspaper of Barbados on April 23 wrote: “Way back in 1998, for example, Conoco, (now ConocoPhillips) – which had two years earlier acquired a licence to explore the entire offshore area of Barbados announced that it had found evidence of oil and natural gas reserves off the south-eastern coast and high-quality source rock in open seas off Barbados and the region of St. Lucia and St. Vincent.”

Dr. Gonsalves when asked that in light of this fact would Government be hiring a firm to explore St. Vincent and the Grenadines territorial waters for oil and natural gas, simply responded: “There is a firm.”