United Oil & Gasoline Plc stated it has acquired an environmental allow from Jamaica’s Nationwide Atmosphere and Planning Company (NEPA) for UOG’s deliberate offshore surveys at its one hundred pc owned Walton Morant License.
The environmental allow is legitimate for 5 years, the corporate stated in a information launch. The allow encompasses a variety of non-invasive offshore surveys, together with bathymetric, geotechnical, and environmental baseline research.
The surveys will “additional improve” United’s technical dataset and are designed to de-risk the license by offering crucial knowledge to assist prospectivity, together with potential hydrocarbon presence within the seabed, the corporate stated.
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Whereas not required for the farmout, they may assist ongoing technical workstreams, underpinned by the latest license extension to January 2028, United said.
The approval represents a key milestone in progressing towards the following section of operational actions underneath the license, UOG stated.
A ultimate excellent allow, referred to as a Seashore License, is anticipated shortly and can full all approvals which might be required earlier than operational actions can start, the corporate stated.
United CEO Brian Larkin stated, “With the Environmental Allow now secured and the Seashore License anticipated shortly, we’re shifting right into a place to advance technical operations and rebuild momentum throughout one of the crucial thrilling and underexplored basins within the area”.
“The Walton Morant license presents a compelling alternative, with billion-barrel-scale potential, drill-ready targets, and a supply rock interval of comparable age to that discovered within the prolific basins of Guyana, Trinidad & Tobago, and elsewhere within the Caribbean area,” Larkin continued.
“Encouraging business curiosity continues, and advancing the farmout stays a core strategic precedence. The farmout course of is progressing in parallel to survey preparations and isn’t contingent upon them. Our focus is on unlocking worth via each technical de-risking and industrial engagement,” he added.
United can even execute a piston core survey, which can contain the gathering of 40 to 60 seabed sediment samples from the Walton and Morant basins utilizing a protracted, cylindrical piston corer designed to penetrate the seafloor and retrieve undisturbed rating samples from the seafloor, the corporate stated in an earlier assertion.
The samples will endure detailed geochemical evaluation to enhance understanding of the hydrocarbon era potential and reservoir high quality throughout the license space. To assist in deciding on viable seabed places, a multibeam echosounder survey is deliberate over sure deeper areas of the license, significantly in areas of the Morant Basin not presently lined by 3D seismic knowledge, the assertion stated.
Additional, the survey will embody a warmth probe evaluation at chosen places to measure background warmth stream and sediment thermal conductivity. The info will assist refined basin modelling and petroleum system evaluation, serving to to establish and prioritize areas almost definitely to host industrial hydrocarbon accumulations, United stated.
In response to United, the Walton-Morant license is comparable in scale and geological potential to ExxonMobil’s prolific Stabroek Block in Guyana, the place over 11 billion barrels of recoverable oil have been found. Like Stabroek, Walton Morant options massive structural traps with high-quality reservoir potential however stays considerably underexplored.
The 22,400-square-kilometer Walton-Morant block hosts over 40 recognized leads and prospects. Eleven of those have been independently verified by Gaffney-Cline in a potential assets report, collectively estimated to carry over 2.4 billion barrels of unrisked imply potential assets, in accordance with an earlier information launch.
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