BNOC came into operation in June of 1982 when the Barbados Government purchased the former Mobil Explorations Inc. production facilities at Woodbourne, St. Philip. It is a national oil company which is 75% Government owned and 25% owned by the National Petroleum Corporation (NPC). The company’s principle activities include upstream and downstream operations.
We operate in the upstream sector of Barbados under a Mineral Lease Agreement issued by Government. This allows us to carry out exploration and production activities in an area of 16,438 acres (6,652.2 hectares) in the Woodbourne, Scotland and Fisher Pond areas. Despite the complex geological conditions in Barbados we have managed to produce 10 million barrels of crude oil, 22.8 billion cu. ft. of associated natural gas and 274,000 barrels of Liquid Petroleum Gas within the last 20 years.
BNOCL sells its indigenous natural gas to the NPC. In addition, BNOCL operates a re-gasification plant that converts liquefied natural gas (LNG) into natural gas for distribution to NPC. About 57% of the product sold to NPC is from the indigenous gas.