It looks like the Russians are preparing to explore for oil and gas in Grenadian waters.
The Russians had made available millions of dollars to the previous New National Party (NNP) government of Dr. Keith Mitchell as part of an oil deal that was signed prior to the 2008 general elections.
The deal was put on hold when the 2008-2013 National Democratic Congress (NDC) administration of Tillman Thomas decided to probe a controversial payment that the Russians had asked former Energy Minister, Gregory Bowen to give a full account.
With the NNP back in power following the February 19 general elections, a new release out of Cyprus said that the Russians are planning to bring a vessel into Grenadian waters to start exploring for oil.
Following is the full text of the release:
LIMASSOL, Cyprus – SeaBird Exploration (OSE:SBX) will use its 8-streamer 3D vessel Geo Pacific offshore Grenada for Global Petroleum Group.
The program follows assessment of 2D data recently processed by TRICON Geographics that indicates significant hydrocarbon deposit potential.
“By finally acquiring modern 3D, followed by state of the art data processing, GPG is looking forward to confirming what we believe to be prospective areas, and immediately thereafter proceeding with drilling operations,” said Eduard Vasilyev, president and CEO.
GPC and Blackwater Subsea are in talks about the final design of a development plan and project management for drilling scheduled in 2014.