New Oban deal to be presented to Cabinet next week

 


Labour Minister Dion Foulkes confirmed Wednesday that the newly revised Oban Energies deal will be presented to Cabinet next week.

Foulkes told the media yesterday that after a technical team presents its report to the committee, which was recently formed to investigate the controversial multi-billion dollar agreement, it will then present a report to Cabinet next week for review.

According to Foulkes, the revised Oban deal, will specifically cover legal matters as well as environmental concerns.

Foulkes said that the previous Oban agreement included a clause where the government could amend the deal.

He said he hopes the new deal will be more economically beneficial not only for Grand Bahama but the country as a whole.

The original heads of agreement (HOA) for the $5.5 billion oil refinery and storage facility set to be constructed on East Grand Bahama, came under scrutiny due to a lack of protocols being followed, particularly when it was discovered that the environmental impact assessment was not completed.