Leslie Miller, minister of trade and industry announced yesterday that the government will finalise an agreement within the next 10 days with Kerr-McGee Corporation that will allow the company, one of the world’s largest oil exploration firms, to begin exploratory drilling on the Great Bahama Bank.
The government, he said, was excited about the opportunity to expand and diversify the Bahamian economy beyond tourism and financial services, especially with the prospect of striking “black gold” should Kerr-McGee find commercial quantities of grade A oil and with the energy industry looking to to expand their holdings using The Bahamas as a pivotal area fro transshipment of liquefied natural gas (LNG).
Source: The Tribune
