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Info on BARBADOS NATIONAL OIL COMPANY


http://bnocl.com/index.php


About Us

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.

Upstream
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.

Downstream
Locally produced crude oil is shipped to the BNTCL terminal where it is refined by Petrotrin refinery under a Processing Agreement. The value of the refined products is used to purchase heavy fuel oil which is re-imported to Barbados. This fuel oil accounts for 80% of the fuel oil used for power generation by Barbados Light and Power Limited, 10% is used for asphalt manufacturing and another 10% for the industrial, commercial and transportation sectors.