The PCJ is a statutory organization created by the Petroleum Act, with the exclusive right to explore and develop the petroleum resources of Jamaica. It is also the Government agency charged with the responsibility for facilitating the development of the country’s energy resources.
The PCJ is assigned specific core functions under the Act, as follows:
- To develop and manage petroleum resources either alone or in association with third party contractors;
- To enter into agreement and arrangements (such as production sharing agreements) with contractors to undertake the exploration, development and management of petroleum resources;
- Either alone or in association with contractors, to acquire, construct and operate refining or processing facilities, marketing facilities, pipeline facilities, tankers, trucks and other facilities for the transportation of petroleum and petroleum products and facilities for storage or distribution of petroleum or petroleum products; and
- Either alone or in association with contractors, to sell and otherwise deal in petroleum and petroleum products.
The PCJ has a number of subsidiaries and joint venture companies. These include:
- Petrojam Ethanol Limited (wholly owned);
- Petroleum Company of Jamaica Limited (wholly owned);
- Wigton Windfarm Limited (wholly owned), Petrojam Limited (Joint Venture with PDVSA);
- Jamaica Aircraft Refueling Services Limited (Joint Venture between Air BP and Petrojam Limited).