Bahamas upstream summary Report

Country Report 06 May 2024

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Report summary

The Bahamas is a group of islands in the Caribbean Sea, located to the southeast of Florida and immediately north of Cuba. It has never produced any oil or gas. There are producing areas in northern Cuba and onshore Florida, and it is thought that these areas may extend into the Bahamas. Despite the first well being drilled in 1947, just five wells have been drilled, all offshore, four of which recorded non-commercial oil shows. The last well was completed in 1986.The lack of exploration ...

Executive summary
Key facts
Location maps
Key companies
Geology
- Introduction
- Overview
- Source
- Reservoir
- Traps
- Seal
Exploration
- Licensing
  - Current licensing
- Drilling
  - Drilling activity
Reserves and resources
Production
- Oil/liquids
- Gas
Infrastructure
- Oil infrastructure
  - BORCO Terminal
  - South Riding Point Terminal
- Gas infrastructure
Policy and regulation
- Key legislation
- Regulatory body
- State oil company
- State participation
- International boundaries
- Licensing
  - Exploration permit
  - Exploration licence
  - Production lease
  - Environmental obligations
- Domestic market obligation
Fiscal terms
- Overview
- Current fiscal terms
- Royalty
- Corporate income tax
  - Tax rate
  - Fiscal / contractual ring fences
  - Deductibles and depreciables
  - Other taxes
- Bonuses, rentals and fees
  - Application fees
  - Area fees
  - Business licence fees
  - Training fees
- Sample cash flow
  - Methodology