Overview
BPC awarded licences
The Bahamas Petroleum Company’s portfolio comprises five petroleum exploration licences covering 15,676 km2 (3,873,546 acres) in the territorial waters and maritime Exclusive Economic Zone (EEZ) of The Commonwealth of The Bahamas.
Four of the licences (Bain, Cooper, Donaldson and Eneas) are held by Bahamas Offshore Petroleum Limited, a wholly-owned Bahamian subsidiary of Bahamas Petroleum Company Plc.
The isolated fifth licence (Miami) is held by Island Offshore Petroleum Limited, another wholly-owned Bahamian subsidiary of Bahamas Petroleum Company Plc.
The current exploration licences are in their second (of four) renewal period. Under the terms of this renewal, which became effective on 27 April 2012, the Company has committed to spud an exploration well by 26 April 2013. The next renewal of the licences, due to take place on 27 April 2015, is contingent on the Company having met it’s drilling and expenditure obligations during the current 3 year period
Summary of assets
| Asset | Holder | Interest | Status | Date of next renewal | Licence area |
| The Bahamas – Bain licence (offshore) | Bahamas Petroleum Company plc | 100% | Exploration | 27 April 2015 | 775,468 acres 3,138km2 |
| The Bahamas – Cooper licence (offshore) | Bahamas Petroleum Company plc | 100% | Exploration | 27 April 2015 | 777,934 acres 3,148km2 |
| The Bahamas – Donaldson licence (offshore) | Bahamas Petroleum Company plc | 100% | Exploration | 27 April 2015 | 778,855 acres 3,152km2 |
| The Bahamas – Eneas licence (offshore) | Bahamas Petroleum Company plc | 100% | Exploration | 27 April 2015 | 780,316 acres 3,158km2 |
| The Bahamas – Miami licence (offshore) | Bahamas Petroleum Company plc | 100% | Exploration | 27 April 2015 | 760,973 acres 3,080km2 |
| Application * | Holder | Licence area |
| The Bahamas – Islamorada Licence (offshore) | Bahamas Petroleum Company plc/Statoil | 777,900 acres 3,148km2 |
| The Bahamas – Zapata Licence (offshore) | Bahamas Petroleum Company plc/Statoil | 776,200 acres 3,141km2 |
| The Bahamas – Falcones licence (offshore) | Bahamas Petroleum Company plc/Statoil | 774,600 acres 3,135km2 |
* Joint Venture Interest for all licences: Statoil – Bahamas Petroleum Company plc.
| Application ** | Holder | Licence area |
| The Bahamas – Santaren Licence (offshore) | Bahamas Petroleum Company plc | 760,100 acres 3,076km2 |
| The Bahamas – Zapata Licence (offshore) | Bahamas Petroleum Company plc | 774,500 acres 3,134km2 |
** July 2010 applications with 100% working interest
