NASSAU, BAHAMAS- The COVID-19 global pandemic has led oil explorer Bahamas Petroleum to delay drilling of exploration well Perseverance-1, the company has said.
The company now anticipates that it will spud a well in late May/early June.
It was previously expected to do so in April 2020; however, BPC pointed to limited access to necessary supplies necessary, along with restrictions on the movement of key project personnel, staff and contractors.
BPC chief Simon Potter said the company has had to “reassess the timing for commencement of drilling given the widespread disruption being caused by the global response to the Covid-19 virus”.
“Whilst incredibly frustrating given all the hard work undertaken to get to the current state of drill-readiness, the responsible thing to do is to slightly reschedule commencement of operations, to later in 2Q (second quarter) 2020, to a time when continuous delivery of operations can be better assured whilst also still enabling operations to be completed before the peak risk period of the Bahamian hurricane season.”
Potter added: “Pleasingly, farm-out discussions in the context of our overall funding strategy continue to advance. We will update shareholders as appropriate over the coming weeks.”