… to launch offshore licensing round next year
Grenadian authorities believe that the country has vast oil and gas reserves and an offshore licensing round is expected in the second quarter of 2027, according to the country’s Prime Minister Dickon Mitchell.
Prime Minister Mitchell said oil finds in Trinidad and Tobago, Guyana and Suriname demonstrate the potential of the region. Weeks ago, Barbados opened a new offshore licensing drive, offering 19 ultra-deepwater blocks to international energy companies.
Mitchell believes Grenada has the potential to develop its petroleum sector too.
“For too long, Grenada’s offshore potential has been an untold story and since this is my first conference, that silence ends today. That silence ends today, and we intend to become part of that next great hydrocarbon story in the Caribbean,” Mitchell said at the opening ceremony of the 2026 Suriname Energy, Oil & Gas Summit & Exhibition, held in Paramaribo.
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The Grenadian leader posited that his country is strategically located, possesses a highly prospective offshore basin and is governed by an administration ready to partner with serious investors.
To advance developments, he said, an offshore licensing round will be launched next year. He also said local authorities are assembling the necessary seismic data and technical studies needed by investors.
It isn’t the first time Mitchell has touted Grenada’s oil and gas potential.
In 2022, just days after being elected Prime Minister, Mitchell told the News Room that his administration is serious about developing the petroleum sector. He said Guyana is one of the partners Grenada believes it can learn from.
At the Suriname conference, he said the Caribbean’s oil-producers should cooperate. For him, that’s how the region can achieve the energy security it so badly needs.
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