Offshore staff
DUBLIN, Ireland – Jamaica’s government has granted United Oil & Gas a two-year extension for the offshore Walton Morant license to Jan. 31, 2024.
An amendment to the production sharing agreement will be submitted to the Ministry of Science, Energy and Technology for final signature next month.
United sees strong evidence of a hydrocarbon system in Jamaica, including source, reservoir, and seal rocks. Last December, Gaffney Cline & Associates reported 11 high graded leads and prospects across the license with a combined resource potential of 2.4 Bbbl.
The company will use the extension to continue its farm-out process for Walton Morant as it seeks partners to drill the 3D seismic-defined Colibri prospect, which could contain 406 MMbbl.
11/24/2021
