No major oil deposits were found in Barbados’ first offshore drilling operation that cost $44 million.
The exploration 70 miles off the St Philip coast in 7 000 feet of water started mid-November last year.
Officials of Conoco, the American oil giant contracted by Government to do the work, declined to reveal what they found, but local experts described the outcome as “disappointing”.
This was revealed just hours after a media tour of the state-of-the-art drilling ship Deepwater Pathfinder where officials gave brief information on the drilling activity but declined comment on what they had actually found.
Branch manager for Conoco, James Fielder, said all findings would be made known to Government following a meeting with a special committee established as a link between the two entities.
“Conoco will have to do its own investigations of the findings and see whether or not it will be worth it to continue,” he said.
However, a well-placed industry expert who has been monitoring Conoco’s developments at the first ever offshore exploratory site for Barbados, said while in preliminary drilling they found hydrocarbon bearing sand, it was not in the quantities they expected.
The multi-million-dollar exploratory well saw crews working 12-hour shifts which changed every two weeks in 7 000 feet of water and drilling 8 000 feet below the sea bed.
“It brings hope in that they are in a new geographical area and what they now have for the first time is actual on-the-spot information which they will test and which will inform future drilling,” said the source.
The short future will see experts comparing the sand from target samples with 2D, 3D and seismic data done previously.
While no more drilling is expected for this year, the source said Conoco was expected to return in 2003 to drill other wells.
With the drilling completed, the crew is now packing up and dismantling the equipment.
By weekend, if there is no equipment failure, they should be ready to head for the Gulf of Mexico where more work is to be done.