Renewables are a hot commodity in the local energy sector, and the state agency charged with managing the oil and gas sector is ready to embrace these alternatives.
Barbados National Oil Company Limited general manager Winton Gibbs made this clear in a recent interview with international media entity The Report Company.
Gibbs said with the developments in oil exploration likely to take place offshore Barbados, the island would move from a net importer to a net export within the next six to eight years.
With such a change, he expected the BNOCL to become Barbados National Energy Corporation. He also explained that they were prepared to embrace renewable energy and the name change would reflect that.
“Our focus will be mainly on the development of offshore oil and gas, but we will also play a significant role in the renewables sector. We believe that we have a comparative advantage with solar energy, and we will maximise the benefit to the community in that regard,” he told the interviewer.
“We are also speaking to a number of potential partners in wind energy and therefore we will diversify the company to wind power as well.”
He added: “In five years’ time, I would think this company would be significantly transformed into an energy delivery company. In order to achieve this, we are speaking mainly to local investors, but the opportunities exist also for foreign technology transfer.”
Gibbs also said there was some scope for collaboration between British entities and Barbados in the oil and gas sector.
“We do have issues with sand production in our wells, so we would look for companies with expertise in sand control and expertise in how more efficiently to produce oil. We have only been producing oil as a primary source, but there is a great opportunity to do secondary recovery,” he said.
“There is room for partnership. With respect to renewables, we are comfortable with the solar panel technology. What we would like to do is to invite partners in other forms of renewables, especially wind energy. We would embrace any investor with that technology to partner with us.”
In recent times TRC, in association with The Guardian of England, has done several interviews with Barbadian representatives in shipping, commerce, health and transportation. (SC)
