Durrant Pate/Contributor

In an Our Today news follow-up, United Oil & Gas is expressing confidence in its potential to land natural gas onshore Jamaica from the country’s Walton-Morant block to supply local demand.

United Oil & Gas, a London Stock Exchange-listed upstream, holds an exploration license for the offshore Walton-Morant block acreage, which covers 22,400 km2.

In a presentation to investors last week, United Oil & Gas highlighted that the area boasts an active hydrocarbons system with mean/mid-case prospective resources of seven billion barrels identified to date that could be developed using floating production storage and offloading (FPSO), such as Stabroek in Guyana.

One off-taker pointed out by United Oil &Gas would be Jamaica’s thermoelectric park, which accounts for around 90 per cent of power generation capacity and is supplied by imported gas and oil. The company reports that other opportunities include state refiner, Petrojam and the bauxite mining industry. 

United Oil & Gas’ work program for Walton-Morant includes sampling and seismic reprocessing, and a “drill-or-drop” decision by 2026 with a commitment to drill one well in a two-year phase two exploration term before 2028.

Last week, Our Today reported that United Oil & Gas has successfully negotiated a settlement for the remaining debt of £$839,200 with its creditor, as it focuses on its Jamaica assets. This latest development comes as the United Kingdon-based company finalises its exit from Egypt, seeking to capitalise on promising Jamaican operations. 

The settlement terms are confidential but the resolution allows United to concentrate on its core assets, including the Jamaican work program and its associated farmout process.