Ireland-headquartered and AIM-listed United Oil & Gas has secured a license off the coast of Jamaica, which is set to lend a helping hand in unleashing the hydrocarbon potential of the firm’s offshore asset.
Weeks after Jamaica’s National Environment and Planning Agency (NEPA) gave the go-ahead for surveys to be undertaken at United’s 100%-owned Walton Morant license, the firm has been granted the Beach license, which enables it to undertake seabed sampling operations within the Walton Morant Basin offshore Jamaica. Described as a continuous license, which renews annually on April 1, it authorizes the company to conduct a piston core survey in the foreshore and seabed areas and to collect seabed samples for geochemical analysis, interpreted as an essential step in assessing hydrocarbon potential.
Building upon the recent extension of the Walton Morant license to January 2028 and the granting of the environmental permit, the latest license award is perceived to mark continued progress in the Irish player’s permitting related to the work program for the Jamaican license. According to United, these surveys will enhance its technical dataset, as they are specifically designed to de-risk the license by providing critical information to support prospectivity, including potential hydrocarbon indicators in the seabed.
The sampling program is set to support ongoing technical workstreams to further de-risk the license. Brian Larkin, CEO of United Oil & Gas, commented: “The granting of the Beach licence marks another important step forward in our efforts to unlock the potential of the Walton Morant Basin.
“Seabed sampling will provide valuable geochemical insights that support our technical evaluation and further enhance the prospectivity and value potential of the Walton Morant licence area. With parties engaged in the data room, this progress helps make the asset even more attractive to potential farm-in partners.
“We are grateful to the Jamaican authorities for their continued support and look forward to advancing our work programme in the region.”
