The Zapata, Falcones and Islamorada licence applications, in the Bahamas offshore play, will now sit with Bahamas.
The agreement has been in place since 2009 after Statoil moved to take over operatorship of the licences.
At the time of the agreement, Statoil said 2D seismic and satellite data indicated several large structures in the area.
Bahamas Petroleum said the decision was based on a prompt by the Bahaman government.
“This
