Talks are ongoing between the government and Oban officials, according to Senator Dion Foulkes, the Minister of Labour  who also serves as head of Cabinet’s Oban Subcommittee.

This following two days of meetings between the two sides last month to negotiate a new Head of Agreement. 

“We are still talking with respect to the economic provisions of the Heads of Agreement, I have nothing new to report on that,” Minister Foulkes said.

Prime Minister Dr. Hubert Minnis insists the new Oban Energies deal will be in the best interest of Bahamians.

The initial agreement called for a $5.5 billion oil refinery and storage facility in East End, Grand Bahama.

The deal ran into difficulty soon after being signed last February 2018.

This happened as former non-Executive Chairman Peter Kriegar forged a signature at the Heads of Agreement signing.

In the House of Assembly last year Dr. Minnis admitted that the government made some missteps with the Oban deal in effort to boost Grand Bahama’s strained economy. 

Environmentalists and many others criticized the government for the deal, as it was signed without anenvironment impact assessment being done. 

In February, Deputy Prime Minister and Finance Minister Peter Turnquest said the government was trying to determine whether the deal is something to proceed with, in terms of the kind of installation versus maybe considering the touristic elements that are now developing the island.

It was later announced that a new Oban deal would be created for the benefit of Bahamians.