Bahamas Petroleum Company confirms that its petroleum exploration licenses state that; “where the licensee applies for renewal and has complied with the Act, Regulations and the terms and conditions contained in this license, the Governor-General shall renew this License for a further period of three (3) years.”
Bahamas Petroleum Company believes it has significantly exceeded all license commitments and obligations with cumulative expenditure in excess of $50 million.
The Company is already working to fulfill the increased requirements of this next three-year phase.
[mappress] Subsea World News Staff , April 23, 2012; Image: BPC