United Oil & Gas Limited is looking to double the sites for possible drilling in Jamaica’s waters.
The new sites are within its Walton Morant licence, but a new assessment of the block has raised the areas of interest from 11 to at least 20, the company stated in its latest quarterly financial release.
Based on a new competent person’s report, or CPR – which is an independent, technical and geological assessment of a project – the company has decided to commission “at least 10 further targets” by year end, said United Oil CEO Brian Larkin in the financial report.
United Oil’s amended Walton Morant licence covers 22,400 square kilometres. Eleven wells have been drilled to date – nine onshore and two offshore.
“And all, bar one, contained hydrocarbon shows,” Larkin said.
The CPR would assess the company’s areas of discoveries and detail their hydrocarbon content to estimate probable volumes.
A previous CPR showed that a key zone within its licence, called Collibri, holds prospects of substances resembling oil equivalent to 229 million barrels, and potentially up to 513 million barrels.