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

New year offers opportunity for political leadership on energy

Jan 15, 2015

After a year of seemingly endless political gridlock on the energy front, we at the National Ocean Industries Association are hopeful that 2015 will bring actual results, not just rhetoric.

Seismic bids under review for deepwater block offshore Egypt

Jan 15, 2015

Petroceltic and partner Edison plan to acquire seismic data this year over their recently awarded North Thekah block in the deepwater Mediterranean Sea offshore Egypt. 

Noreco reduces stake on Danish license

Jan 15, 2015

Norwegian Energy Co. (Noreco) has reduced its ownership in license 9/95 on the Danish continental shelf from 20.1% to 16%.

Trio wins West Teal block in UK North Sea

Jan 15, 2015

Britain’s government has awarded a further block to PA Resources and partners First Oil and Gas and Dyas UK under the UK’s 28th Seaward Licensing Round.

Statoil returns three offshore Greenland licenses

Jan 15, 2015

Statoil has returned three of four exploration licenses it held offshore Greenland. 

Trending News

Ensco ranks first in customer satisfaction survey

Jan 29, 2015

Ensco plc has earned first place for total customer satisfaction in the Oilfield Products & Services Customer Satisfaction Survey, which was conducted by EnergyPoint Research. 

Online exclusive: New strategy needed for deepwater development, unconventional plays

Jan 29, 2015

The unconventional resource play serves to achieve production targets whereas aspiration for a large material discovery pushes the industry toward deepwater.

Kongsberg Maritime to expand facility in Louisiana

Jan 29, 2015

Kongsberg Maritime has purchased about 5.2 acres for the construction of an 82,980-sq ft (7,710-sq m) office and training facility in St. Rose, Louisiana. 

Maersk takes delivery of third ultra-harsh environment jackup

Jan 29, 2015

Maersk Drilling has taken delivery of its third ultra-harsh environment jackup, XLE-3, from the Keppel FELS shipyard in Singapore ahead of schedule. 

Oil and gas mergers and acquisitions hit 10-year highs for deal value and volume

Jan 29, 2015

Mergers and acquisitions (M&A) in the oil and gas industry hit 10-year highs in terms of deal value and volume in 2014, according to PwC US.

  Offshore
Digital Magazine
Look Inside
Cover
Current Issue

Oil & Gas Jobs

Search More Job Listings >>