The Bahamas should have a national discussion on whether it should continue to allow exploration for oil in its waters, according to Minister of Environment Romauld Ferreira.
On Monday, Bahamas Petroleum Company (BPC) announced that its exploratory well in Bahamian waters failed to produce oil in commercial quantities.
While the company indicated it is plugging and abandoning the exploratory well 90 miles off Andros, environmental groups have called on the government to announce a moratorium on drilling for oil.
Ferreira told The Nassau Guardian, “We don’t know if we have it in commercial amounts to sustain an industry.
“We know that it’s here. The real question is, do we continue along this vein to explore and make that determination? I think we should have a national discussion on it. Here’s the reason why I think it’s important, because as you see, it’s a very emotive issue.
“A lot of people were fighting over what they thought they were going to get. I kept reminding at every opportunity that I got that we haven’t actually found it in commercial quantities yet. We’ve been drilling, like I said, since 1947. That’s a lot of time.”
BPC holds five exploration licenses covering approximately four million acres. Four of the licenses, referred to as the southern licenses, are located in the southern territorial waters where Perseverance #1 was drilled; and a fifth, the Miami license, is in northern territorial waters.
Attorney General Carl Bethel said on Monday, “They are coming up for renewal but I can’t speculate on what will happen with that before I talk to my colleagues.”
Prime Minister Dr. Hubert Minnis has said he is “totally against” oil drilling in Bahamian waters, but the government stated it was legal bound to approve the drilling.
BPC had been drilling its exploratory well since December 20.
In December, West Grand Bahama and Bimini MP Pakesia Parker-Edgecombe recommended a referendum on the “significant” issue of oil drilling in The Bahamas.
Ferreira told The Guardian that he understood her point about a referendum “because it would bring focus to the issue”.
“There are other ways you can have a national discussion,” he said.
“It’s important that that conversation begins and it’s important that all sides are listened to, all sides. It’s no different from any other element of anything. It’s important that all sides are listened to and all sides are respected and then a decision made.”
Last month, the commissioners of the City of Coral Gables, Florida, approved a resolution urging the Bahamian government to revoke offshore oil drilling licenses and permanently ban offshore drilling activities in The Bahamas. The resolution noted that the exploration and development of oil and gas resources off the coast of Florida “may not effectively address” the long-term economic diversification goals of The Bahamas and would “likely substantially damage the tourism sector of the Bahamian economy”.
When asked about Coral Gables’ action, Ferreira replied, “So, your question to them would be, are they prepared then, the City of Coral Gables, to offer us an offset if we were to find it? That’s the next logical question. We know that you’re opposed. Okay. Fine.
“If we find it in commercial quantities, are you prepared to offer us an offset? And that offset should be equivalent to what that would’ve contributed to our economy.
“That’s kind of like the ethical thing to do in this situation because you’re opposing it. So, you have to offer a solution.”
On Monday, BPC stated that over the coming weeks it will undertake a detailed evaluation of all technical information gathered during drilling.
“In this context, BPC will review the appropriate way forward for future monetization of its business in The Bahamas, in particular with a view to renewal of a farm-in process,” BPC noted.
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Minister says it’s important all sides are listened to
he Bahamas should have a national discussion on whether it should continue to allow exploration for oil in its waters, according to Minister of Environment Romauld Ferreira.
On Monday, Bahamas Petroleum Company (BPC) announced that its exploratory well in Bahamian waters failed to produce oil in commercial quantities.
While the company indicated it is plugging and abandoning the exploratory well 90 miles off Andros, environmental groups have called on the government to announce a moratorium on drilling for oil.
Ferreira told The Nassau Guardian, “We don’t know if we have it in commercial amounts to sustain an industry.
“We know that it’s here. The real question is, do we continue along this vein to explore and make that determination? I think we should have a national discussion on it. Here’s the reason why I think it’s important, because as you see, it’s a very emotive issue.
“A lot of people were fighting over what they thought they were going to get. I kept reminding at every opportunity that I got that we haven’t actually found it in commercial quantities yet. We’ve been drilling, like I said, since 1947. That’s a lot of time.”
BPC holds five exploration licenses covering approximately four million acres. Four of the licenses, referred to as the southern licenses, are located in the southern territorial waters where Perseverance #1 was drilled; and a fifth, the Miami license, is in northern territorial waters.
Attorney General Carl Bethel said on Monday, “They are coming up for renewal but I can’t speculate on what will happen with that before I talk to my colleagues.”
Prime Minister Dr. Hubert Minnis has said he is “totally against” oil drilling in Bahamian waters, but the government stated it was legal bound to approve the drilling.
BPC had been drilling its exploratory well since December 20.
In December, West Grand Bahama and Bimini MP Pakesia Parker-Edgecombe recommended a referendum on the “significant” issue of oil drilling in The Bahamas.
Ferreira told The Guardian that he understood her point about a referendum “because it would bring focus to the issue”.
“There are other ways you can have a national discussion,” he said.
“It’s important that that conversation begins and it’s important that all sides are listened to, all sides. It’s no different from any other element of anything. It’s important that all sides are listened to and all sides are respected and then a decision made.”
Last month, the commissioners of the City of Coral Gables, Florida, approved a resolution urging the Bahamian government to revoke offshore oil drilling licenses and permanently ban offshore drilling activities in The Bahamas. The resolution noted that the exploration and development of oil and gas resources off the coast of Florida “may not effectively address” the long-term economic diversification goals of The Bahamas and would “likely substantially damage the tourism sector of the Bahamian economy”.
When asked about Coral Gables’ action, Ferreira replied, “So, your question to them would be, are they prepared then, the City of Coral Gables, to offer us an offset if we were to find it? That’s the next logical question. We know that you’re opposed. Okay. Fine.
“If we find it in commercial quantities, are you prepared to offer us an offset? And that offset should be equivalent to what that would’ve contributed to our economy.
“That’s kind of like the ethical thing to do in this situation because you’re opposing it. So, you have to offer a solution.”
On Monday, BPC stated that over the coming weeks it will undertake a detailed evaluation of all technical information gathered during drilling.
“In this context, BPC will review the appropriate way forward for future monetization of its business in The Bahamas, in particular with a view to renewal of a farm-in process,” BPC noted.
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Minister says it’s important all sides are listened to
The post Ferreira: Nat’l decision needed on oil drilling appeared first on The Nassau Guardian.
source https://thenassauguardian.com/ferreira-natl-decision-needed-on-oil-drilling/
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