Caribbean
News
Kingston
Petroleumworld.com
02 19 06
Wednesday 15th February, 2006
An Australian company was granted a license to search for oil
and natural gas off Jamaica's south coast, a government official
said Friday.
Finder
Exploration Pty. Ltd. will explore a zone about eight kilometers
(five miles) south of Jamaica, said Raymond Wright, a top official
at the Ministry of Industry and Commerce.
"We
know that there is oil and gas in Jamaica. But we want to know
if we have it in enough quantity to" suit commercial purposes,
Wright said.
The
Perth, Australia-company was likely to begin work in the coming
days. It will cover the US$3 million (euro2.5 million) cost
of the operation, which could take several months, Wright said.
If
oil or gas is eventually exploited, Finder Exploration will
give a 12.5 percent royalty to Jamaica. Fugro, of Norway, will
conduct a series of seismic surveys for Finder, Wright said.
Caribbean
News
Wednesday 15th February, 2006
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