Prime Minister of The Bahamas, Dr. Hubert Minnis, recently announced that the government has approved a proposal for construction of an oil refinery and storage facility in Grand Bahama. The Prime Minister said:

“I am advised that Oban Energies Management team has been involved in large energy infrastructure projects around the world and brings over 30 years of large, complex construction experience. Oban Energies has further advised that the first phase of the project will consist of four million barrels of fuel storage, a harbour, and deep-sea loading docks to service large vessels; and the construction of a 50,000 barrels per day refinery.

“In addition, Oban will build [an] up to 20 million barrel liquid bulk storage facility and a 250,000 barrel per day refinery. The oil refinery has an estimated project cost of up to US$4 billion and the terminal has an estimated cost of US$1.5 billion.

“This is a very significant development for Grand Bahama.”

In addition, Dr. Minnis noted that

the Developer has acknowledged the importance of the marine environment to the government and therefore has agreed to provide US$150,000 to accredited research institute, as may be mutually selected by the government and the Developer.

Read more from the Jamaica Gleaner and the Nassau Guardian.

Previously on Green Antilles: Oil, the environment, and the Caribbean.

[Image: David Stanley]