Preliminary discussion on the environmental impact assessment (EIA) of the $5.5 billion oil refinery and storage facility by Oban Energies began in Grand Bahama yesterday.
Oban engineers and environmental teams, met with the Bahamas Environment Science & Technology (BEST) Commission and local government committee members for East Grand Bahama at the Office of the Prime Minister.
The talks come amid swirling controversy, which Prime Minister Dr. Hubert Minnis has since dismissed, surrounding Oban Non-Executive Chairman Peter Krieger, who faced fraud charges in the United States recently.
Kreiger’s blemished past includes a first degree fraud felony levied by the United States Securities and Exchange Commission (SEC), to which he pled guilty and was subsequently imposed sanctions. He ultimately settled out of court.
The project drew mounting concern when the Heads of Agreement was signed on Monday without a completed EIA study in hand. The government officials reassured the public that the signing was a means to remove stumbling blocks to improve the ease of doing business in the country.
According to Kreiger, once begun, the environmental study will be completed within 45 days.