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Bahamas Petroleum attracting interest from oil majors

Bahamas Petroleum Company (BPC) aims to begin drilling activity this year whilst searching for a technical partner to share in the “world class” multi-billion barrel potential of the Caribbean region. The company said it is partnering discussions with numerous parties, including majors and large independent oil companies. 

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Energy Voice
Wednesday, January 13, 2016
Wednesday, January 13, 2016
Phil Allan

BPC LOGO13/01/2016 8:43 am (Energy Voice) – Bahamas Petroleum Company aims to begin drilling activity in the Caribbean this year whilst searching for a technical partner to share in the “world class” multi-billion barrel potential of the region.

The company said it is partnering discussions with numerous parties, including majors and large independent oil companies.


Despite a tumbling oil price, BPC believes the “world-class scale and robust economics” of its assets continue to attract attention and it hopes to conclude a successful partnership deal this year.

BPC’s contracted licence obligation to the Government of The Bahamas is to commence a first exploration well on the southern licence areas by April 2017.

A proposed exploration well was redesigned and the optimum location re-examined, which coupled with significant reductions to rig, contractor and services rates has allowed the company to target an obligation well cost of $50 million to $60 million, a significant reduction on previous estimates.

BPC ended 2015 with approximately $5.5million of cash – enough to continue funding overhead requirements through the farm-out and well planning phase, it said in a statement.

This is an excerpt from Energy Voice as it appeared on January 13, 2016. For updates or to read the current version of this post in its entirety, please click here.

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Atlantis, Paradise Island resort in The Bahamas recently launched a new multi-platform advertising and branding campaign entitled "Why Do We Vacation" which is showcased throughout television, digital and social mediums.

The Tourism Ministry is promoting Grand Bahama through the The Grand Life multi-media, multi-lingual advertising campaign launched this month. Watch the TV commercial here.

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