Markets

Bahamas Petroleum Company to Begin Offshore Drilling in 2012

By: Caribbean Journal Staff - April 21, 2011

The Bahamas Petroleum Company is planning on beginning drilling in 2012, according to BPC CEO Dr. Paul Crevello. “We are working towards a drilling well next year sometime,” Crevello said yesterday. “We know the government is working towards getting regulations in place, both drilling regulations and spill-response contingencies, so I think we’re both working towards a similar timeframe.” The company has spent between $14 million and $15 million so far this year, after raising $73 million in March. [The Nassau Guardian]

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