No commercial oil or gas discovered in Jamaica, says United Oil
KINGSTON, Jamaica— United Oil and Gas Plc (UOG) said it has drilled no wells, and, as a result, no commercial oil or gas discovery has been made in Jamaica.
The company sought to make the clarification on Tuesday following recent social media speculation of the discovery of the commodity off the shores of Jamaica.
UOG said in a news release, however, that the Walton-Morant licence it has acquired is for exploration off Jamaica’s south coast. It added that it “holds a 100 per cent working interest and is currently engaged in a farm-out process”.
“The Walton-Morant Licence is a vast exploration area containing numerous promising prospects. We are committed to improving our understanding of the resource potential within the licence area,” said Brian Larkin, United’s chief executive officer (CEO).
This is a 22,400km2 offshore exploration licence, located to the south of Jamaica, UOG said.
United said its 2024 work programme is focused on conducting piston core sampling, which aims to detect any oil residue before considering future exploration drilling targets.
“We continue working to secure a strategic partner to unlock the immense potential within the licence, including recent positive interest that has been shown by several parties. Following securing an extension to the licence, our 2024 work programme is underway, and we will update the market at the next suitable opportunity,” Larkin added.
