United Oil and Gas Plc, a London-based oil and gas exploration firm, has invested more than US$39.3 million (J$6.3 billion) over the past decade in its search for oil and gas offshore Jamaica.
The disclosure was made by Minister of Science, Energy, Telecommunications and Transport, Hon. Daryl Vaz, during a parliamentary session on Tuesday, January 28.
Responding to questions from Opposition Spokesperson on Energy and Mining, Phillip Paulwell, Minister Vaz outlined the government’s Oil and Gas Production Sharing Agreement (PSA), which grants United Oil and Gas Plc exclusive exploration rights in Jamaica’s offshore territory.
According to Minister Vaz, a robust work program was proposed in January 2024 to significantly reduce risks associated with oil and gas exploration off Jamaica’s south coast. As part of this initiative, a concentrated drop core/piston core survey is currently undergoing an environmental application process through the National Environment and Planning Agency (NEPA).
“This survey involves deploying a specialized vessel to collect samples from the sea floor to test for the presence of oil and gas. This marks a major milestone for the project,” Minister Vaz stated.
Additionally, United Oil and Gas Plc is actively seeking partners to share the financial risk of drilling operations, with new companies evaluating Jamaica’s potential under a drill-or-drop decision framework. The company has until January 2026 to decide on moving forward with drilling operations.
The current PSA is set to expire on January 17, 2026, leaving the next two years critical for determining Jamaica’s offshore oil and gas prospects.
