South America / GoM

Bahamas flag
Summary | Profile

Country profile: Bahamas

Location: Caribbean, chain of islands in the North Atlantic Ocean, southeast of Florida, northeast of Cuba
Climate: tropical marine; moderated by warm waters of Gulf Stream
Terrain: long, flat coral formations with some low rounded hills
Size: 13940 sq. km total (Land area: 10070 sq. km  Water area: 3870
Population: 307,451
Languages: English (official), Creole (among Haitian immigrants)
Government: constitutional parliamentary democracy
Capital city: Nassau
Legal system: based on English common law
Currency: Bahamian dollar (BSD)

Country profile

Lucayan Indians inhabited the islands when Christopher COLUMBUS first set foot in the New World on San Salvador in 1492. British settlement of the islands began in 1647; the islands became a colony in 1783. Since attaining independence from the UK in 1973, The Bahamas have prospered through tourism and international banking and investment management. Because of its geography, the country is a major transshipment point for illegal drugs, particularly shipments to the US and Europe, and its territory is used for smuggling illegal migrants into the US.

Energy production and consumption

Oil Gas
Consumption: 26,000 bbl/day (2005 est.)  
Exports: 41,290 bbl/day (2004)  
Imports: 68,250 bbl/day (2004)  
Major fields:

Bahamas - recent news

30 Sep 20
Bahamas: Bahamas Petroleum announces Perseverance-1 operational update
In the lead-up to drilling of its first exploration well in The Bahamas - Perseverance-1 - BPC has provided an update in relation to preparation for well operations. Perseverance-1, at 100% equity to BPC, is expected to spud before Christmas 2020, and is targeting recoverable prospective resources of 0.7 - 1.4 billion barrels of oil.
25 Sep 20
Bahamas Petroleum announces spud date for Perseverance-1 well
Bahamas Petroleum Company (BPC) has received formal notification from Stena Drilling nominating the Stena IceMAX as the intended drill rig for the upcoming Perseverance-1 drilling campaign. The date for anticipated spud of Perseverance-1 is prior to Christmas 2020.
01 Jun 20
Bahamas Petroleum announces final results for the year ended 31 December 2019
Bahamas Petroleum Company has announced its final results for the year ended 31 December 2019. Significant progress has been achieved during the year toward drilling the Perseverance-1 well in 2020, offshore The Bahamas.
26 May 20
Bahamas: Bahamas Petroleum signs rig contract for Perseverance-1 well
Bahamas Petroleum Company has announced that, having postponed its Perseverance-1 drilling operation from H1 2020 due to the Covid-19 pandemic, it has entered into a definitive contract with Stena Drilling for provision of a drilling rig as soon as Q4 2020.
25 Mar 20
Bahamas: Bahamas Petroleum provides update on the timing of the Perseverance-1 well
Bahamas Petroleum Company has provided an update in relation to the timing for the drilling of Perseverance-1, its first exploration well in The Bahamas. Due to the impact of COVID-19, drilling operations are being rescheduled to October 2020 onwards.

Bahamas - more news

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