JIS News

Story Highlights

  • The Petroleum Corporation of Jamaica (PCJ) says it will ensure that Jamaicans benefit, if oil results from the recently announced gas and oil exploration project.
  • The exercise, which commenced on November 1, is being facilitated under a Production Sharing Agreement (PSA) signed by the PCJ, and Tullow Jamaica Limited.
  • An exploration licence has been issued to the firm, which has committed some $6.7 billion (US$60 million) to undertake activities off the island’s South coast.

The Petroleum Corporation of Jamaica (PCJ) says it will ensure that Jamaicans benefit, if oil results from the recently announced gas and oil exploration project.

The exercise, which commenced on November 1, is being facilitated under a Production Sharing Agreement (PSA) signed by the PCJ, and Tullow Jamaica Limited.

An exploration licence has been issued to the firm, which has committed some $6.7 billion (US$60 million) to undertake activities off the island’s South coast.

Speaking at the Jamaica Information Service (JIS) ‘Think Tank’, on Wednesday, November 12, Manager, Oil and Gas, PCJ, Brian Richardson, said the PCJ will ensure that the project “brings the benefits that we desire,” if the survey results in the discovery of  oil.

“We worked very hard to get someone like Tullow Oil on board and it is our earnest wish that as we go forward, it brings the benefits that we desire. The PCJ and its team will ensure that we commit all the resources that we do have to ensure that Jamaica gets the fullest benefit from the programme being implemented,” he said.

Mr. Richardson pointed out that the project will have several phases. “In each of those phases, the explorer, Tullow Oil, will be looking to build on the knowledge of the past and continue to use their internal expertise, develop on that knowledge and hopefully point to a place where we could go on to a more detailed seismic work, using sound waves to investigate under the surface,” he added.

The PCJ executive said that a key component of the project is the intellectual sharing and transfer of knowledge, noting that Tullow Oil will be collaborating with the Department of Geology of the University of the West Indies, Mona Campus, during the first phase of the project.

“They have been here for over 80 years. They have the underground knowledge and I believe that they (Tullow Oil) will definitely use the resources there,” he added.

According to Mr. Richardson, the team will meet with members of the Department to get them on board and to hold discussions with students pursuing their PhDs.

“We want to get them on board to ensure that they go through the process and develop that knowledge base,” he said.

Group General Manager, PCJ, Winston Watson, said the immediate benefits of the project will be mainly investments in the country and job creation on a small scale, as the company begins “to ramp up its activities here.”

“We have not found anything yet. We are just going through the exploration,” the General Manager said.

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