Jamaica's Multi-Billion-Barrel Offshore Oil and Gas Block Completes Drilling Study

en.Wedoany.com Reported - On October 20, United Oil & Gas announced the completion of a study on drilling rigs and long-lead equipment supply for the Walton-Morant block offshore Jamaica, with NRG Well Management conducting the assessment. The study identified more than 10 candidate offshore drilling rigs meeting the requirements, clarified procurement lead times for critical materials and a local logistics support plan for Jamaica, and provided an implementation basis for subsequent exploration drilling and farm-out negotiations for the block.

The study covered two exploration targets, Colibri and Thunderball, located in water depths of approximately 750 meters and 1,900 meters, respectively. The unrisked mean prospective resources of the two targets are 406 million barrels and 603 million barrels, respectively, totaling 1.009 billion barrels. Colibri is located in the Walton Basin, while Thunderball is located in the Morant Basin, the latter being part of a series of large tilted fault-block structures.

The drilling rig screening covered available equipment from international offshore drilling contractors, with a focus on rig operating capability, availability, and regional location. NRG concurrently engaged with suppliers to investigate supply channels, procurement timelines, and delivery arrangements for long-lead drilling equipment and materials required for key well services. The study also proposed a logistics plan centered on Jamaica's port infrastructure, utilizing local port handling, project cargo transport, equipment storage, heavy lifting, marine fuel supply, and customs clearance services, combined with regional specialized offshore engineering resources to organize subsequent drilling support.

The Walton-Morant block covers an area of approximately 22,400 square kilometers, and United Oil & Gas holds a 100% interest. The company has identified 40 exploration targets and leads within the block, corresponding to total unrisked mean prospective resources of more than 7.2 billion barrels. The company is currently advancing farm-out negotiations for the block, and subsequent drilling operations are subject to regulatory approval from the Government of Jamaica and the execution of relevant commercial agreements.