Exploration may resume on blocks off Bahamas

BPC Ltd., Perth, and Norway’s StatoilHydro ASA formed a joint venture to explore for oil and gas off the Bahamas if the government approves license applications.The companies propose to explore licenses in southwestern Bahamas waters that lie between Miami and central Cuba. The Bahamas commonwealth government could approve the license applications by yearend, BPC said (OGJ, May 18, 2009, Newsletter).The joint venture territory lies between four other Bahamas blocks wholly held by BPC southwest of Andros Island and six blocks in the Florida Straits off northwestern Cuba operated by Repsol YPF SA in which StatoilHydro holds 30% interest.Meanwhile, BPC has identified 22 exploration lea...

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