Stay Connected

Drilling offshore the Bahamas gets a step closer

Offshore staff

NASSAU, Bahamas – The Bahamian government has opted to defer any referendum on future oilfield development in the Bahamas until after exploration drilling has been completed.

Bahamas Petroleum Co. (BPC), which has been planning to drill offshore the islands for the past few years, welcomed the decision. In a statement, the company said that the government had demonstrated a responsible approach both to the industry and to potential future investors.

Any subsequent referendum will only be conducted once the presence and scale of petroleum reserves has been established.

Future activities must be performed in full compliance with the islands’ environmental and safety regulations. BPC said it supports provision of a modern framework to govern industry activities with revised and upgraded regulations consistent with international best practices.

BPC has identified an initial drilling location based on interpretation of a full prestack depth migration data set delivered in August 2012. The data has been used to establish regional control on the stratigraphic framework, to complete a comprehensive seismic facies analysis, to re-map key horizons from the intra-Jurassic to the intra-Tertiary, and to tie the Doubloon Saxon well petrophysics and lithologies into the overall interpretation.

As a result, the seal risk has been greatly reduced and the potential for hydrocarbons increased in both folds B and C.

In addition, the new data has confirmed the potential of the previously unevaluated deeper section below the first anhydrite, close to base Aptian. This appears to have source, faulted migration pathways, reservoir, and seal in juxtaposition – all positive factors for oil.

However, BPC says it will take at least a year to prepare a plan for drilling, procurement, logistics, and support based on the existing front-end engineering and design study.

The company continues farm-out discussions with various parties concerning a future drilling program.

3/14/2013

Related Articles

Studies highlight jobs, revenue potential of opening new oil and gas leasing offshore US

Nov 20, 2014 Offshore oil and natural gas leasing in the eastern Gulf of Mexico and the US Atlantic and Pacific coasts could create nearly 840,000 American jobs and raise more than $200 billion in revenue for t...

Sonangol, Eni to review Lower Congo gas options

Nov 18, 2014

Sonangol Chairman Francisco de Lemos Maria and Eni CEO Claudio Descalzi have signed an agreement on future cooperation activities in Angola.

Eni eyes exploration offshore Turkmenistan

Nov 18, 2014

Eni and the Turkmen State Agency for Management and Use of Hydrocarbon Resources have signed an exploration memorandum.

Full tensor gravity system can add value to multi-client surveys

Nov 13, 2014 Seismic remains the principle tool in the exploration toolbox for most areas in the world. The establishment by seismic contractors of the multi-client business model has served to make offshore da...

ClassNK expands Veracruz office to increase offshore support

Nov 13, 2014

Classification society ClassNK has expanded its Veracruz office in Mexico to better support the growing offshore oil industry in the Gulf of Mexico.

 

Trending News

Online Exclusive: Deloitte: The Next Chapter of the Energy Renaissance

Nov 25, 2014

Oil and gas professionals believe that the United States has enough affordable natural gas production to meet rising and changing sources of demand, and that the country will be self-sufficient in oil in five to 10 years, according to a Deloitte survey titled, “2014 Oil and Gas Survey: The Next Chapter of the Energy Renaissance.”

Ikon Science joins SEAM

Nov 25, 2014

Ikon Science has joined the consortium for the SEG Advanced Modeling (SEAM) program and will work on the third phase of this initiative to evaluate and advance the current methodologies for pre-drill pressures and hazard predictions.  

Subsea 7 lands GoM installation for Shell

Nov 25, 2014

Royal Dutch Shell has awarded Subsea 7 a contract for installation work in the Gulf of Mexico. The contract value is in the range of $50 million to $100 million.

Teledyne Webb Research delivers Slocum G2 gliders to Blue Ocean

Nov 25, 2014

Teledyne Webb Research has sold and delivered a Slocum G2 glider to Blue Ocean Monitoring Pty. Ltd. for use in commercial oil and gas related applications.

SeaBotix to join Teledyne Marine Systems

Nov 25, 2014

SeaBotix, part of the recent Bolt Technology Corp. acquisition by parent company Teledyne Technologies Inc., will join the Marine Systems group.

  Offshore
Digital Magazine
Look Inside
Cover
Current Issue

Oil & Gas Jobs

Search More Job Listings >>