Energy

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With large swathes of undersea and land sites closed to exploration and development in the wake of the Deepwater Horizon disaster, international majors and smaller firms are considering drilling elsewhere in the region. The Bahamas is firmly in their sights.
Brunei and Malaysia have agreed that joint demarcation and survey activities can begin next year on previously disputed offshore oil and gas blocks. The move draws a clearer picture of the role international companies will play in a development expected to significantly boost the Sultanate’s reserves.
The Bahamas, which has no proven reserves of oil or natural gas, is totally reliant on imports to meet its energy needs. A major upcoming development project, however, could change this situation in the foreseeable future.

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