Saturday, April 20, 2024

Bid to increase oil production

Date:

Share post:

Local oil production will increase in the coming months.

Chairman of the Barbados National Oil Company Limited (BNOCL), Alex McDonald, made this announcement after a media conference earlier this week at the launch of the Barbados National Terminal Company Limited in Fairy Valley, Christ Church pipeline maintenance project.

McDonald said the oil company was in the preparation and consultation phase of a programme that would lead to an increase in production.

“Our oil production has been constant for the last three years but we are looking to increase,” he said. “This would be done through a process of secondary recovery which would make the wells more efficient. Unwanted materials in the well, like sand and other materials clogging it, will be removed.

“The price of oil is really low globally. You want to make sure you start pulling your assets when the price of oil goes up and try to be more efficient when it is low,” McDonald added. (SB)

Subscribe now to our eNATION edition.

For the latest stories and breaking news updates download the Nationnews apps for iOS and Android.

whatsapp-alerts-bloc

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

Flash Flood Warning in effect for northwestern districts

The Barbados Meteorological Services (BMS) has issued a Flash Flood Warning for the northern districts of Barbados, effective...

Dust haze advisory remains in effect for Barbados

The Barbados Meteorological Services (BMS) urges residents to be aware of an ongoing significant dust haze advisory. A...

Public cautioned against fake social media posts about President

Members of the public are being cautioned against participating in any schemes claiming to be in the name...

Netflix profits soar after password sharing crackdown

Netflix says its profits have soared in the first three months of this year, partly thanks to a...