Above: Group General Manager of the Petroleum Corporation of Jamaica, Winston Watson (JIS Photo)

By the Caribbean Journal staff

Jamaica has embarked on an oil and gas exploration project, the Petroleum Corporation of Jamaica announced this week.

The project, which began Nov. 1, is being facilitated under a production sharing agreement between the PCJ and Tullow Jamaica Limited.

The firm has received an exploration licence, having committed around $60 million to undertake oil exploration activities off the island’s south coast.

According to Brian Richardson, manager for oil and gas at the PCJ, the PCJ will ensure that the project “brings the benefits that we desire,” should it result in the discovery of oil.

“We worked very hard to get someone like Tullow Oil on board and it is our earnest wish that as we go forward, it brings the benefits that we desire,” he said. “The PCJ and its team will ensure that we commit all the resources that we do have to ensure that Jamaica gets the fullest benefit from the programme being implemented.”

The project will be conducted over several phases and “hopefully point to a place where we could go on to a more detailed seismic work, using sound waves to investigate under the surface,” he said.

According to Group General Manager at PCJ, Winston Watson, the immediate benefits of the project would be “mainly investments in the country and job creation on a small scale.”

“We have not found anything yet. We are just going through the exploration,” he said.