The renewal will see the company hold the licences for a further three years and carries an obligation for it to start drilling an exploration well by April 2015.
Bahamas said it expected to meet the obligation through a farm-out agreement, with an exploration well in the southern licences anticipated in the second half of 2014.
"We welcome the government's decision to renew our licences, offering further clarity on our path forward as we progress our operations towards drilling the first exploration well ahead of the 2015 obligation,” Bahamas chief executive Simon Potter said.
