Seven “major international oil companies” are assessing seismic data compiled by a Bahamas-based oil exploration company ahead of potential joint venture negotiations, the latter yesterday saying it had invested $35 million in a more detailed 3D survey of Bahamian waters.
Dr Paul Gucwa, the Bahamas Petroleum Company’s chief operating officer, told Tribune Business that the 3D survey – which will complete its data acquisition by the end of this month – would take its total investment in oil and gas exploration under Bahamian waters to $50 million over a six-seven year period.
