3.750
%
Positive
16
mm boe
0
%
The Bahamas is still in its infancy as hydrocarbon province, but its development is underway. Despite recent drilling disappointment, the region remains attractive, albeit in the medium to longer term.
May 18, 2021
Caribbean
mm bbl
bcf
A chain of islands in the North Atlantic Ocean, southeast of Florida, northeast of Cuba
Concession
While the Bahamas has no track record in O&G tax management, we believe that the government will leverage its experience in general taxation, which should be a positive.
The Bahamas maintains an open investment climate and actively promotes a liberal tax environment and freedom from many types of taxes, including capital gains, inheritance, and corporate or personal income taxes. The Bahamas does not offer export subsidies, engage in trade-distorting practices, or maintain a local content requirement. The country continues to attract FDI from various parts of the world and has recently benefitted from significant investments in the tourism sector from international companies based in China. Investments from the United States are also primarily in the tourism sector and range from general services to billion-dollar resort developments to multi-million dollar homes on the major islands of the archipelago.
Source: ESRI, Heritage Index, HMG Foreign & Commonwealth Office, US Department of State, International Trade Administration, International Law Review, Ernst & Young, Wood Makenzie & OGA data.
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