Modernised and strengthened regulations in The Bahamas
Each of the present day activities highlighted on the Oil Exploration – Present page are heavily regulated in the neighbouring nations of Cuba, the United States and The Bahamas. The Bahamas Government is a signatory to many international codes of practice, conventions and cooperative agreements including MARPOL and OPRC, as well as specific maritime legislation (illustrated below). The Bahamas has its own oil spill contingency planning coordination group and is a member of the regional Caribbean coordinated response group. With such activities ongoing daily Tier III responder (where a response capability is international in both scale and quality) capability is mandated – Bahamas Petroleum Company is already a member of the Oil Spill Response Group, with access to their extensive global reach and resources. Over and above this The Bahamas Government has recently modernised and strengthened its regulations to govern oil exploration activity. These regulations combine best practices identified in a variety of leading jurisdictions – including new procedures and equipment requirements adopted post the Gulf of Mexico incident – to reflect the most up-to-date risk management practices and mandate the use of the best technology suitable – including capping stack and/or top hat technologies.
Past Bahamian Government delegations to Havana highlights the level of cooperation between the respective Governments and the premium placed on the coordination of regulatory regimes and response activities. It is the adoption of an updated regulatory regime reflecting the attitudes of modern society, the benefits of tragic lessons learned at great human cost and the access to modern technologies that are helping pave the way for safe future operations in Bahamian waters and stimulated recent activity.