Non-Company Press Releases
DPM: Bahamas and Cuba agree on maritime border
12 May 2011
DPM: Bahamas and Cuba agree on maritime
By CHESTER ROBARDS Guardian Staff Reporter
email@example.com on 5/11/2011
Government officials from The Bahamas and Cuba have agreed
in principal regarding the maritime boundary between the two
countries, according to Deputy Prime Minister and Minster of
Foreign Affairs Brent Symonette.
Symonette, on Monday, joked at a news conference at the
Department of Immigration that the boundary was finally established
after a long 15-year dispute. However, he said the countries
maintained an amicable and diplomatic relationship throughout the
process. The United Nations assisted with the
Establishing the maritime boundary between the countries,
which goes near the Cay Sal Bank towards Inagua, was critical for
oil exploration in the area.
However, the government has not yet said that it will allow
drilling for oil near the Cay Sal Bank or anywhere else in The
Bahamas. The government announced a drilling moratorium following
the oil spill in the Gulf of Mexico last year.
The government is considering a clear policy on disaster
management in the event that there is an oil spill in Bahamian
Symonette said that Cabinet now has to meet and sign off on
the boundary coordinates agreed on by the Bahamian and Cuban
The Bahamas Petroleum Company (BPC) has several oil
exploration licenses in Bahamian waters. Despite the drilling
moratorium, BPC is optimistic that it will begin drilling in
BPC CEO Dr. Paul Crevello said recently that the company and
the government are working on establishing the necessary
regulations so that BPC can further its operations in the
"We are working towards a drilling well next year sometime,"
Crevello said during a Rotary luncheon in The Bahamas in April. "We
know the government is working towards getting regulations in
place, both drilling regulations and spill-response contingencies.
So, I think we're both working towards a similar
Crevello mentioned that over $14 million had been spent by
BPC on the search for oil. The company raised around $73 million in
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