Business
Jamaica oil exploration update
Monday, February 6, 2012
Jamaica Oil exploration blocks
The Petroleum Corporation of Jamaica (PCJ) has extended production sharing agreements held by a subsidiary of Sagres Energy Inc., on offshore blocks 9, 13, and 14.
The three agreements cover the right to explore and develop an area which covers approximately 8,864 square kilometres off Jamaica’s offshore waters.
Jamaica is not alone in the region in looking for oil offshore. The Bahamas, too, has a potentially large amount of oil in its offshore waters, and Guyana has several US firms either reportedly interested or already planning to explore in the country