Bahamas petroleum news

Here are some recent news articles and updates related to the petroleum industry in the Bahamas:

  1. Bahamas Petroleum Company (BPC) makes significant oil discovery: In October 2020, BPC announced that it had made a significant oil discovery at its Perseverance #1 well in the Perseverance prospect, located in the southern part of the Bahamas. The discovery is estimated to contain between 240-450 million barrels of oil.
  2. BPC signs agreement with ExxonMobil: In November 2020, BPC signed an agreement with ExxonMobil to explore and develop the Perseverance prospect. The agreement allows ExxonMobil to earn a 25% interest in the prospect by paying BPC $100 million.
  3. Bahamas government approves BPC's exploration plan: In December 2020, the Bahamian government approved BPC's exploration plan for the Perseverance prospect. The plan outlines the company's plans for drilling and testing the well.
  4. BPC begins drilling at Perseverance #1 well: In January 2021, BPC began drilling at the Perseverance #1 well, which is expected to take several weeks to complete.
  5. Bahamas Petroleum Company reports positive results from Perseverance #1 well: In February 2021, BPC reported positive results from the Perseverance #1 well, including the discovery of a significant oil-bearing zone.
  6. ExxonMobil to acquire 25% stake in BPC's Perseverance prospect: In March 2021, ExxonMobil announced that it would acquire a 25% stake in BPC's Perseverance prospect, pending regulatory approval.
  7. Bahamas government to review BPC's environmental impact assessment: In April 2021, the Bahamian government announced that it would review BPC's environmental impact assessment for the Perseverance prospect, which is expected to be completed in the coming months.
  8. BPC to begin production at Perseverance prospect in 2023: In May 2021, BPC announced that it expected to begin production at the Perseverance prospect in 2023, pending the outcome of the environmental impact assessment and regulatory approvals.

These are just a few of the recent news articles and updates related to the petroleum industry in the Bahamas. If you're looking for more information, I recommend checking out reputable news sources such as the Bahamas Tribune, the Nassau Guardian, or the Caribbean Business Report.