Jamaica and Tullow Oil Sign Exploration Deal
KINGSTON, Jamaica (AP) – Jamaica’s petroleum firm has signed an agreement with a British oil company, clearing the way for oil and gas exploration in offshore blocks south of the island.
The “production sharing agreement” was signed with London-headquartered Tullow Oil, which has a 100 percent operating interest.
Details of Offshore Block Exploration
The pact allows Tullow to start exploring 10 of Jamaica’s 31 offshore blocks. The areas to be surveyed cover about 32,065 square kilometers (12,380 square miles).
Petroleum Corporation and Tullow Statements
In a Tuesday statement from the Petroleum Corporation of Jamaica, Tullow exploration director Angus McCoss said a “great deal of geological and other essential work is required before any drilling can take place.”
Timeline and Scope of Exploration Work
Exploration work to search for commercially-viable wells of oil and gas could last up to 7 ½ years.
