Grenada is looking to become the next Caribbean player in the global oil and gas industry, with Prime Minister Dickon Mitchell outlining plans to move forward with offshore hydrocarbon exploration while insisting the country will not lose sight of its long-term transition to renewable energy.

Speaking to delegates at the Grenada Diaspora Homecoming Forum, Mitchell said his government believes Grenada has the potential to join neighbouring energy producers such as Trinidad and Tobago, Guyana and Suriname if commercially viable oil and gas reserves are confirmed beneath its seabed.

“We are quietly confident that there are commercial quantities of hydrocarbons in Grenada,” Mitchell said.

He revealed that a technical working group, chaired by former Finance Minister Nazim Burke, has spent the past two and a half years gathering and analysing data on Grenada’s offshore resources. Its findings are expected to be presented to Parliament and the public within the next six to 12 months, along with recommendations on the next phase of exploration.

Hydro carbons were discovered the Nutmeg field, located about 100 km south west of the island just inside the Grenadian border, in 2017 by Russian-based Global Petroleum Group (GPG). 

Two exploration wells have been in the shallow field which is located at 180 metres. 

There have not been much development in the field.

Mitchell said Grenada owes it to future generations to determine whether those resources exist and, if they do, to develop them responsibly.

“We are close to Trinidad and Tobago, which has had oil and gas for over a century. We are close to Venezuela, which has some of the largest oil and gas reserves in the world. We are close to Guyana and Suriname… so why not Grenada?” he said.

The prime minister also made a direct appeal to Grenadians living abroad, inviting them to help shape what he believes could become one of the country’s most significant economic opportunities.

He said the government wants both the diaspora and local businesses to play a meaningful role in any future energy sector, with local content remaining a priority from the outset.

“We want to ensure that local content is paramount in the pursuit of our exploitation of oil and gas,” Mitchell said, adding that the expertise and investment of Grenadians overseas could help build the industry.

At the same time, Mitchell stressed that hydrocarbon development would not derail Grenada’s commitment to renewable energy. Instead, he argued that revenues from oil and gas could help finance the country’s transition to cleaner energy sources.

“The transition to wean ourselves off fossil fuel is expensive, and we can’t accomplish the transition on an empty treasury,” he said.

He pointed to ongoing plans for utility-scale solar projects and geothermal development, with exploratory drilling expected to begin at geothermal sites in St John and St Patrick during the first half of 2027.

Mitchell encouraged members of the diaspora with expertise in energy, regulation and investment to partner with the government, saying Grenada also needs the right policies and regulatory framework to support the shift towards renewable energy.

While optimistic about the country’s hydrocarbon prospects, the prime minister was adamant that environmental protection would remain non-negotiable.

“We will not compromise our beaches or our environment in our pursuit of the exploitation of oil and gas,” he said.

He added that any future development would be carried out transparently and in an environmentally responsible manner, balancing economic opportunity with the need to protect Grenada’s natural resources.

Mitchell said affordable, reliable and secure energy is critical to achieving the goals of Vision 75, Grenada’s long-term national development plan, describing energy security as the foundation for the country’s future economic growth.