Bahamas Petroleum Company says that the Bahamian House of Assembly passed a new Petroleum Bill and associated Regulations and a Sovereign Wealth Bill in December 2015.

BPC considers that when this legislative package becomes law (and thus applicable to all exploration licence holders in The Bahamas), it will represent a significantly more modern and up-dated regime regulating exploration industry activities in The Bahamas.

The Company believes that this upgraded framework, in being more consistent with current industry standards and expectations of communities provides considerable assurance to industry stakeholders, as well as the Bahamian people, of safe and responsible operations.

Tags: Bahamas Petroleum Company