United Oil & Gas (UOG), based in Ireland, has been assessing its planning stages for offshore activities in Jamaica with the goal of exploring over one billion barrels of oil. The company is conducting a new study that includes evaluating drilling resources, local logistics, and long-term equipment for the Walton-Morant license off the coast of Jamaica.
Positive Results from Drilling Study
United Oil & Gas has released positive results from a study conducted by NRG Well Management to assess access to drilling rigs and long-term equipment. This study was part of the company's exploratory land transfer process and clearly outlines the potential pathways for future exploration opportunities. The study indicates the presence of a suitable and accessible set of drilling rigs that have been evaluated based on capability, timing, and regional location.
Jamaica-Based Logistics Model
The identified logistics model combines port infrastructure and local services with specific offshore services. This model includes loading and unloading operations, warehousing, heavy lifting, marine fuel supply, and customs services. These capabilities can serve as a complement to offshore services from reputable regional centers.
Brian Larkin, CEO of UOG, stated, "Completing this study is an important step for the Walton-Morant license. This study provides practical and useful information regarding access to the rigs and equipment necessary to tap into oil resources exceeding one billion barrels."
The study also evaluated the offshore drilling market among international contractors and identified a double-digit set of drilling rigs to align with the potential drilling window. This diversity in rig selection allows UOG and future partners to respond to drilling opportunities as they become available.
According to the provided information, the Walton-Morant license includes two key targets named Colibri and Thunderball. Colibri is located at an approximate depth of 750 meters, while Thunderball is at an approximate depth of 1900 meters. These two targets are recognized as part of a larger set of block structures in the Morant Basin.
Ultimately, UOG has emphasized that this study is a planning review and market assessment and does not imply any commitment from the company to drill at this time. Any future drilling program will require obtaining all necessary approvals from the Jamaican government and executing commercial agreements.
