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Bahamas gov’t to allow offshore oil exploration

Offshore oil exploration will be allowed off The Bahamas, the Environment Minister said Sunday, adding that a voter referendum on whether to go forward with full production will be held only after it is determined whether the island chain has commercially viable reserves. 

Source:
Date:
Updated:
AP/ABC News
Monday, March 11, 2013
Monday, March 11, 2013

Offshore oil exploration will be allowed off the Bahamas, the environmental minister said Sunday, adding that a voter referendum on whether to go forward with full production will be held only after it is determined whether the island chain has commercially viable reserves.

The exploratory drilling will not likely produce enough information to make a decision until late 2014 at the earliest and the referendum could be held the following year, Environmental Minister Kenred Dorsett said.

This is an excerpt from AP/ABC News as it appeared on March 11, 2013. For updates or to read the current version of this post in its entirety, please click here.

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Wealth management, funds and insurance will be the focus of the Bahamas Financial Services Board's marketing campaigns this year, which will see delegations from the jurisdiction traverse the globe.

The Bahamas' Environment Minister Kenred Dorsett said yesterday that the government would not hold a referendum on oil exploration. Watch a ZNS news report here.

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