BAHAMAS PETROLEUM COMPANY June 2014 College of The Bahamas: Environmental Law Clinic OIL EXPLORATION, PREVENTING OIL SPILLS AND NO ENVIRONMENTAL DAMAGE
What Oil Exploration and Production is there in the Region BP Well Macondo 600 million Bbls produced 50,000 Wells drilled 1.1 million barrels p.a. 21 million - NATURALLY Tonnes 2011 Oil drilling in The…
Oil Spills, Environmental Damage Local Activity - Exploration ODP ODP Diameter: 900 m FREEPORT Diameter: 500 m Diameter: 1,000 m Abaco Depth: 55 m Depth: 10 m Grand 1.1 million Bahama Barrels per year Gt. Isaac…
What Can Be Expected If The Worst Case Happens Temperature By depth Current EIA accepted 2012; public document BEST website Initial well planning, Emergency Response Plan (EMP), Oil Spill Contingency Plan, Tier III responder…
Can an Effective Response be Directed Environmental Sensitivity Maps Sensitivity Index Maps 4
Are Hard Lessons Learnt Being Applied in The Bahamas No Sensitive Receptors Environmental Sensitivity Regulations and Standards International best practices embodied in approved EIA No sensitive environments in immediate vicinity…
Why is the Gulf of Mexico so different to The Bahamas Top Hat Bathymetry Capping Stack Source: Helix Well Containment Group DIFFERENCES BPC Gulf of Mexico Rocks Well Well Pressure Water Depth Equipment Bathymetry…
Oil Exploration - Why Explore Demand and Pricing World Oil production/consumption 1987-2012 Crude oil prices 1987-2012 Million barrels daily US dollars per barrel Production by region Demand by region Bahamas Context Demand…
Oil Exploration - Why Explore in The Bahamas Great Issac 1 FLORIDA BAHAMAS Andros 1 Attractive to BPC Size of fields Low cost environment Legislative and fiscal stability Technology application Cay Sal 1 Long Island…
What Would The Project Benefits Be 5 10+ 1 year 13 3 6 years 20 40 years Seismic years years Seismic & Exploratory Appraisal Development Development Phase Geologic Drilling Drilling Planning & and Studies Construction…
An Energy Policy Primary energy world consumption 1987-2012 Electricity Production in The Bahamas Million tonnes oil equivalent 2012 by source of energy Fossil Fuels +99.9% Energy Economy Greening Expensive 10
Hopes and Wishes Hopes Mo:ves What can be brought about Shareholder Value Revenues Economy diversification Reputation Independence Self-sufficiency Wishes Infrastructure How we do our business Employment / Jobs…
Oil Exploration, Preventing Oil Spills and No Environmental Damage 12
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