Oban Energies said it is still committed to building an oil storage and refinery in East Grand Bahama despite the damage to the area during Hurricane Dorian.
The Category 5 hurricane storm decimated parts of the island in early September with most of the devastation occurring in the east.
In a statement, the company said, “Oban remains committed to an environmentally friendly and sustainable project that will grow Grand Bahama’s economy.
“Negotiations continue with the government. Our focus at this time is the trail of devastation left by Dorian and providing relief.”
The project is expected to cost $5.5 billion.
In March, the government and officials from Oban recommenced negotiations on an amended heads of agreement for the project.
The original agreement was signed on February 10, 2018, but the government later committed to reviewing it amid public furor. The government also established a Cabinet subcommittee and technical advisory group to examine the deal.
The agreement was signed without an environmental impact assessment (EIA) in place.
The current agreement states that the government does not have the option to kill the deal based on anything the EIA concludes, but must work with Oban to address any concerns raised by the study.
The EIA was completed late-2018.