In 2008, government granted GPG a licence over 11 offshore blocks to explore Grenada’s waters for oil and gas. The government said that in 2016, it signed a Memorandum of Understanding with GPG reserving the remaining seven offshore blocks for GPG, on condition that it first brings the original project, namely the 4 blocks, into commercial production. On 29 April 2026, the Government terminated the 2016 Memorandum of Understanding regarding the seven blocks that were reserved. On 1st August 2026, the Government terminated the Development Licence and the Production Sharing Agreement, granted in relation to the four (4) blocks,” the statement said. GPG said it has now reserved “all its rights” to pursue additional legal proceedings to protect its interests.