Bahamas Petroleum Corporation: Governor-General Signs License Renewal

Junior oil and gas explorer Bahamas Petroleum Company announced Wednesday that the Governor-General of the Bahamas has signed the firm's Licence Renewal Addendum, formerly completing the license renewal process for BPC's four southern licenses.

The renewal established the exact date pertaining to the renewal so that the second exploration term of the four southern licenses will now run until June 8, 2018.

BPC has been hoping to drill an exploration well in the Bahamas for several years, but progress has been held up by political opposition to drilling in the Caribbean island. Last month, the firm announced that the Petroleum Bill and a suite of associated regulations have been put before the Bahamian House of Assembly for their second readings with BPC CEO Simon Potter stating that the reading "further reinforces the government’s commitment to petroleum exploration, where a successful outcome could be an economic game-changer for The Bahamas given the sheer scale of the prospects".



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  Atwood Oceanics Offshore Employees in ... (Aug 23)
 -  What Kind of Salary Can You Get as an ... (Aug 18)
 -  Shell Divests Stake in Saudi JV (Aug 16)
 -  Saipem to Build Pipelines for Kuwait R... (Aug 16)
 -  The Trick to Nailing Your Electrical E... (Aug 10)


Most Popular Articles

From the Career Center
Jobs that may interest you
Administrative Assistant 3
Expertise: Executive|Secretarial or Administrative
Location: Houston, TX
 
Counsel/Senior Counsel
Expertise: Legal
Location: Houston, TX
 
Senior Chemical Export Charterer - Houston, TX
Expertise: Logistics Management
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $52.57/BBL 1.34%
Light Crude Oil : $48.41/BBL 1.61%
Natural Gas : $2.93/MMBtu 0.34%
Updated in last 24 hours