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BPC begins drilling exploratory oil well

THE STENA Icemax.

THE STENA Icemax.

BAHAMAS Petroleum Company has begun drilling its exploratory oil well, company officials announced on Monday.

According to BPC, the well was ‘spud’ on Sunday December 20 at 06.30 EST and is anticipated to take 45 - 60 days to complete.

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Simon Potter

Simon Potter, BPC CEO, said 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. This is a momentous milestone for both BPC and The Bahamas and represents the culmination of more than ten 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 - 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 licences: a potential uplift that is the traditional domain of the ‘oil majors’.

“More than a decade ago BPC secured several offshore hydrocarbon licences in the far-southern waters of The Bahamas. Convinced of the compelling prospectivity of those licences, the company has spent close to $120 million bettering our technical understanding, continuing to de-risk the play, and ultimately preparing meticulously for exploration drilling. Our 3D seismic survey revealed structures that have the potential to contain a world class, multi-billion barrel oil resource that, if present in the way we hope, could prove to be transformative – not just for our company, but for the nation and people of The Bahamas as a whole.

“I very much look forward to updating shareholders with results once the well has been completed. The next several weeks will be a truly exciting time for BPC.”

This comes as opposition mounts to the oil drilling. Activists have filed an application for judicial review to stop the process and last week a group of US Congressmen and women wrote to Prime Minister Dr Hubert Minnis asking him to stop oil exploration in Bahamian waters.

See Tuesday's Tribune for more on this story.

Comments

joeblow 1 year, 11 months ago

We are a nation of money loving, unprincipled, shortsighted idiots. We will get just what we deserve!

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lucaya 1 year, 11 months ago

Who is we Sir? Do you have any convincing evidence that more than the nasty, corrupt politicians and their cronies have their hands tightly wrapped in this binding deal? Call names?

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joeblow 1 year, 11 months ago

... "we" refers to Bahamians in general and the leadership in particular! Any accidents will be felt by all of "we" although almost none of "we" may be beneficiaries of any successful wells!

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tribanon 1 year, 11 months ago

This should seal the political fate of both Minnis and Davis. There will be no alternating 5 year terms for these two clowns now that the Bahamian people know the political game that was played by Christie and Ingraham for so many years.

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Space 1 year, 11 months ago

This is disgusting. Proclaiming with glee that this is a big step for the Bahamas when he knows fine well that this is something the majority of Bahamians do not want, and that its something that could destroy this country. He should be ashamed of himself, but alas, I sense he is rubbing his hands with glee, as he really doesn't care what happens to Bahamians and the Bahamas one iota.

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islandboy 1 year, 11 months ago

Yeah da rich bahimian liky yall don wnat it. Poopr peyple who ain work in months cause covid need moaney. We can't stare at no plant and bush and get money what yall talkin bout. Peyple who need help support anyting da govment could do ta help us. So there, you an ya other friends ain speaykin fa majortea. We done get mash up from hurricane and Covid and yall wna leavse moaney in da ground. Doan make no sense.

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UN 1 year, 11 months ago

A part of me is hoping they find some (would work in my favor). We now have money so we can stop pretending she’s a relative who has to make us rich (and it may also stop the weird psychology: a person YOU ONCE KNEW helped you means you have to make we’re-all-strangers-to-you rich).

And people may finally develop some class and integrity. No more lashing out because the wrong mama give birth to us, no more being petty with food (expensive tough-meat-water-soup and not the okra soup she used dwindling $ to pay for, McDonald’s: let her stand there catching cramp while we taunt her - instead of being grateful for a job - I want you to know you have ‘no one’, junglist customer ‘my husband gave me $700’, she paid for oatmeal-no-cream but we’ll slyly add a bit of cream anyway, KFC: she’s a loyal customer but we’ll ego trip by telling her there is no lemonade).

Small minds. That’s how people filled with hope spend their working hours? Imagine the crap they’re doing during off hours? Yes, striking oil would be a good thing (for me).

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Bahamianbychoice 1 year, 11 months ago

Are they not drilling up in the Bahamian fishing grounds..where the large Bahamian commercial fishing boats usually go? Makes you wonder if this new Fisheries Bill that was passed ironically today...same day drilling begins.... actually has another agenda as it certainly is not in the best interest or in support of growing the fishing industry. Wonder if this is why it was jammed through parliament and the senate so quickly.

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TalRussell 1 year, 11 months ago

It appears Mr. Minnis, and his attorney general, want you to believe that the full force of government is no match against the scrapping afford KFC 3 piece and fries meal deal resources Comrade Simon Potter. Shakehead a quick once for upyeahvote, a slow twice for not?

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TalRussell 1 year, 11 months ago

If Jamaica can ban all flights out of the 4 nations of England, how is it Mr. Minnis, and Carl Wilshire, couldn't have banished all travel into the colony by sea and land by all individuals, and things. associated with oil drilling. Shakehead a quick once for upyeahvote, a slow twice for not?

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Porcupine 1 year, 11 months ago

Not a coinsidence, darkest day of the year, December 21, 2020. And the darkest set of commenters in Bahamian history. What, politically incorrect, but say it, human scum.

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islandboy 1 year, 11 months ago

Hey Porky from Pinewood. And you is da same one dat was callin me dumb on da other tread. always talkin down ya nose at peyple. How cum you ain see dis commin since you so smart. Now if dey hit oil da poor peyple ga finally get some money. I dead happy bout dis. Kemp road need help. And you da scum ya uppity john. bealive you better than peyple. be gone.

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ThisIsOurs 1 year, 11 months ago

poor people een getting nothing outta this. Where you living? You remember the last issue they rile y'all "poor" people up about? The one that was supposed to make all of us rich? Illegal gaming. And who get rich anx fky in in helicopter? Sebas. You still a security guard. Thats how it goes. They wave a bunch of bills in your face to get your support and when they get what they want they gone.

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Bahama7 1 year, 11 months ago

Give it up porky. You will be lapping up the oil revenue on the quiet.

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GodSpeed 1 year, 11 months ago

I hope everyone involved is held criminally responsible when the inevitable happens. Idiots can drill a hole but can't clean the mess.

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DDK 1 year, 11 months ago

Not only are we the recipients of the destruction of Cat 5 - 10 hurricanes, now we must await devestation, if not anihilation, from earthquakes, tsunamis and oil spills.

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DDK 1 year, 11 months ago

Most disgusted congratulations extended to the greedy and corrupt Minnis regime which has, unsurprisingly, joined forces with its greedy and corrupt PLP brothers and sisters in their new found thirst for black gold.

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DDK 1 year, 11 months ago

How many decades of most greedy, largely uneducated, certainly all for me baby, politicians have brought us to the brink of devastation of our own archipelago. WAKE UP PEOPLE!

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ThisIsOurs 1 year, 11 months ago

I wonder when we'll have the first earthquake

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ROMERBOY 1 year, 11 months ago

What a nasty thing to say. Hopefully, you're around to witness the good that we could benefit from.

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ROMERBOY 1 year, 11 months ago

Thankfully we have professionals drilling in our waters.

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