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JIS News

Minister of Commerce Science and Technology, Phillip Paulwell is expected to travel to Houston, Texas on December 17, where he will formally launch another licensing round for the exploration of oil and gas in Jamaica’s waters.
The Texas call follows the successful launch of a licensing round in London last month. Minister Paulwell will be accompanied by Dr. Raymond Wright, Group Managing Director at the Petroleum Corporation of Jamaica (PCJ).
In early November, Cabinet approved the arrangements by which the Jamaican government, through the PCJ, will initiate petroleum exploration within Jamaica’s Exclusive Economic Zone (EEZ). Twenty-two offshore blocks and four onshore blocks are on offer for licensing.
At the London launch, Mr. Paulwell told a specially invited group representing international oil companies and industry watchers, that modern techniques and re-analysis of the data had now resulted in a much deeper and more positive understanding of the island’s potential for oil and gas exploration.
He said the government had decided to re-invigorate interest in the exploration of Jamaica, as there was considerable potential within unexplored areas offshore the Southern Jamaica.
The formal bidding will open on January 1, 2005 and close on July 15, 2005.