Oban Energies has received approval from the government of the Bahamas to commence construction of an oil refinery and oil storage facility in Grand Bahama.
The project is expected to create 600 direct jobs, 1,000 indirect jobs during construction and have an estimated project cost of more than $4bn.
Prime Minister, Dr. the Hon. Hubert Minnis said: “My Government has recently completed negotiating the Heads of Agreement which paves the way for the commencement of this important project. This Heads of Agreement articulates how this development can proceed.
“We are on the road to revitalizing both Grand Bahama and the entire Bahamas.
“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 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.”
For more information visit www.obanenergies.com
23rd Feb 2018