Exploration activities in Jamaica have occurred in two phases. The first between 1955 - 1973, undertaken done by private companies, while the second (1978 - 1982) was undertaken by the national oil company, the Petroleum Corporation of Jamaica ("PCJ"). Between 1955 and 1973, 7 exploratory wells were drilled, six of which were onshore. Immediately following on the establishment of the PCJ in 1979, the momentum of activity increased with the drilling of an additional 3 wells onshore and 1 offshore between 1980-1981. With advancements in the geological and geophysical sciences over the past two decades, Jamaica is being viewed as a frontier region and is likely to benefit from this reawakening of interest in frontier provinces inside the Caribbean. While limited in development to date, the presence of Tullow and United O&G remains a high spot. However, given the limited size of the upstream sector, the country has difficulty in attracting investment.
May 19, 2021
There has been little exploration or production in the country, has occurred in the country
In 1958 it joined other British Caribbean colonies in forming the Federation of the West Indies. Jamaica withdrew from the Federation in 1961 and gained full independence in 1962. Deteriorating economic conditions during the 1970s led to recurrent violence as rival gangs affiliated with the major political parties evolved into powerful organized crime networks involved in international drug smuggling and money laundering. Violent crime, drug trafficking, and poverty pose significant challenges to the government today. Nonetheless, many rural and resort areas remain relatively safe and contribute substantially to the economy.
Source: ESRI, Heritage Index, HMG Foreign & Commonwealth Office, US Department of State, International Trade Administration, International Law Review, Ernst & Young, Wood Makenzie & OGA data.
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