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.

Quoting from an article published in the latest issue of The Bahamas Investor, State Minister for Investments Khaalis Rolle said in Parliament last week that the nation must diversify its economy, while continuing to pursue the strategy of attracting foreign direct investment to realize its potential.