February 9th, 2021- Nassau, Bahamas:
The Bahamas National Trust (BNT) notes the Bahamas Petroleum Company’s (BPC) recent press release stating that no commercial volumes of oil were found during the drilling of its Perseverance #1 well in The Bahamas. The press release also stated that this well will now be permanently plugged and abandoned.
The BNT is reassured to hear that no commercial volumes of oil have been discovered during this exercise, and that BPC will cease its activities in this area. The BNT is pleased to hear no incidents occurred in the drilling process and hopes the abandonment procedure goes well, without incident.
The BNT believes this should be a turning point for The Bahamas, where we unite and focus on working together for a future that embraces sustainability and clean, renewable energy.
“This was a risky endeavor, and the results of this operation have proved that there weren’t economically viable quantities of oil in that location. What we do know is that we do not need extensive research to verify that our marine environment and its associated resources contribute some 8 billion dollars annually to our economy,” said Eric Carey, BNT Executive Director.
Noting that the Prime Minister and other Cabinet Ministers have stated that they do not support oil exploration in The Bahamas – the results of this operation afford our country the opportunity to review and extinguish any existing or expired seabed leases for the purpose of oil exploration.
The BNT encourages every local NGO and Bahamian citizen who have made their voices heard on this matter to remain vigilant. Even though BPC has shared that this well will be abandoned, they have also indicated that this does not signal the end of their activity in The Bahamas.
The BNT strongly supports the inspiring advocacy from local organizations and individuals who have made their voices heard on this matter and all other environmental matters that affect our future.
The BNT especially commends the work of coalition: Our Islands, Our Future, who have tirelessly worked to bring people together and take action on this matter.
We must continue pressing onward, marching together to a common loftier goal, a goal that moves us toward a sustainable future, in the face of a changing climate.
The BNT will continue to monitor further activity by BPC and its partners relating to the exploration of oil in The Bahamas.
To learn more about the role that the BNT plays to manage terrestrial and marine national parks, protect species that inhabit them, and inform environmental policy, please visit its website: www.bnt.bs and follow/subscribe to various social media channels: Facebook, Instagram, Twitter, and YouTube.
About the BNT:
About the BNT:
The Bahamas National Trust (BNT) was created by an Act of Parliament in 1959 to build and manage the national park system of The Bahamas. Possibly the only non-governmental organization in the world charged with such a responsibility, the BNT works daily to conserve and protect the natural resources of The Bahamas through stewardship and education for present and future generations. There are currently 32 National Parks managed by the BNT with more than 2 million acres of marine and terrestrial areas protected.
Elijah Sands, Bahamas National Trust
Cell: (242)431-6797 / Tel: (242) 393-1317