Page 14 - LatAmOil Week 39 2022

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INVESTMENT
Barbados to open offshore

bid round on December 1

Minister of State in Foreign Trade and Business
Sandra Husbands has announced that Barbados
will open its Offshore Licensing Bid Round in
the coming months.
Speaking at the opening of a three-day
Energy Local Content Workshop, Minister Hus-
bands said that the Ministry of Energy and Busi-
ness plans to launch the Barbados 2022 Offshore
Licensing Round on December 1, 2022.
She said: “Interested companies will be
invited to nominate acreage from available
blocks, for inclusion in the bidding process. The
upcoming licensing round presents an opportu-
nity to explore the island’s untapped deep-water Starboard has a partnership with Apollo Rockhopper 35%, Navitas as operator 65%;
potential under a competitive legal, fiscal and Global Management, a leading global alterna- PL005, Rockhopper 35%, Navitas as operator
regulatory framework.” tive investment manager, with Apollo holding a 65%; PL0032, Rockhopper 35%, Navitas as oper-
She added: “The new global economy is minority stake in Starboard. ator 65%; PL0033, Rockhopper 35%, Navitas as
being driven by renewable energy, energy own- Through the conclusion of the transaction, operator 65%.
ership, and energy investment. These realities Starboard will be the largest shareholder of the North Falkland Basin: PL011, 100% Rock-
and the need to make local businesses viable Company and will act, jointly with Kvalitena and hopper as operator; PL012, 100% Rockhopper as
to compete on the international market help other stakeholders, in the implementation of a operator; PL014, 100% Rockhopper as operator.
to inform the mandate of the Barbados Energy strategy to create value for the Company. Samuel Moody, CEO, commented: “We
Local Content Development Project. However, Paulo Thiago Mendonça, Managing Director are delighted to welcome Navitas to the North
the ultimate goal is to ensure that the country’s of the Starboard group, stated: “Starboard is con- Falkland Basin as Operator of the Sea Lion
transition from fossil fuels to 100 per cent renew- fident in the quality of Maha’s assets and intends development and wider acreage with all of its
able energy sources is realised. This way, we can to ramp up production of cash flow-oriented associated upside. We also thank both the Falk-
ensure that all Barbadians have access to energy assets. Starboard will pursue the creation of an land Islands Government and Harbour for their
that is reasonably priced, reliable, and sustaina- energy platform focused on dividend generation work on this Transaction and look forward to
ble,” she explained. and value creation for the shareholders.” working with Navitas to bring Sea Lion to fru-
Energy Chamber of Trinidad and Tobago, Seth Lieberman, Chairman of Kvalitena, ition. Sea Lion alone is capable of producing at
September 27 2022 stated: “We are extremely pleased to have Star- over 120,000 barrels [per day (bpd) of oil] with
board join Kvalitena as a significant Maha share- significant upside. The proven oil and gas in the
Kvalitena sells shares holder. Starboard has an excellent track record Falklands has the potential to form a material
of delivering on production targets, generating part of wider UK energy supply in a relatively
in Maha Energy cash flow and creating and delivering value to short time frame, bringing with it huge potential
security of supply and financial benefits for all
shareholders.”
On September 28, 2022, Kvalitena, a company Maha Energy, September 28 2022 stakeholders.”
incorporated and registered in Sweden, entered Rockhopper Exploration, September 23 2022
into a Share Purchase Agreement with vehi- Rockhopper announces
cles managed by the Starboard group in which
Kvalitena sold approximately 10% of the shares Sea Lion update POLICY
issued by Maha Energy, a public limited liability
company incorporated under the laws of Swe- Rockhopper Exploration, the oil and gas explo- Energy Chamber of Trinidad
den, to Starboard. ration and production company with key inter-
Starboard is a Brazilian investment man- ests in the North Falkland Basin, has announced & Tobago pleased with
agement firm with offices in São Paulo, Rio de that, further to the signing of definitive docu-
Janeiro and Madrid. Its extensive experience mentation as announced on April 19, 2022, the fiscal measures announced
and credibility with market participants in the transaction enabling Harbour Energy to exit and
Brazilian space allow Starboard to find unique Navitas Petroleum through its UK subsidiary to in Budget 2023
investment opportunities and provide solutions enter the North Falkland Basin with a 65% stake
to highly complex situations. Starboard’s exper- in, and operatorship of, all of Rockhopper’s The Energy Chamber welcomes measures put in
tise has enabled the development of a successful North Falkland Basin licences, has completed. place by the Ministry of Finance to improve the
strategy in energy and oil and gas assets, such Licence ownership post Transaction com- fiscal environment under which the upstream
as 3R Petroleum Óleo e Gás SA (a publicly held pletion, North Falkland Basin: PL003, Rock- energy sector companies operate in Trinidad
company in Brazil) and Gemini Energy SA. hopper 35%, Navitas as operator 65%; PL004, and Tobago.

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