Dec 21

BPC commences exploration drilling

December 21, Nassau Guardian

The Bahamas Petroleum Company commenced exploratory drilling in Bahamian waters today, BPC Chief Executive Officer Simon Potter announced in a press release.

“We are very pleased to announce that the drilling of the exploratory well, Perseverance #1 has commenced – the well has been spud,” Potter said.

“This is a momentous milestone for both BPC and The Bahamas and represents the culmination of more than 10 years work by a team who have remained steadfast in their belief in this project throughout – that it is finally taking place is a testament to the application, skill and professionalism of many people over those years.

“The well will be drilled to the highest environmental and safety standards over the next 45 to 60 days. Our shareholders have been extremely patient, but we are now within a couple of months of understanding the scale of potential resource uplift that might be accessed within the licenses: a potential uplift that is the traditional domain of the oil majors.”

This comes amid widespread opposition to oil drilling in The Bahamas by environmentalists, who are concerned that any kind of oil spill could have a detrimental impact on the natural resources of the country.

A little over a week ago, Prime Minister Dr. Hubert Minnis also voiced his opposition to oil drilling in Bahamian waters.

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