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OIL AND GAS
Oil seen flowing onshore in Jamaica
by Daniel J. Graeber
Washington (UPI) Feb 21, 2018

Oil was found flowing naturally for the first time ever onshore in Jamaica at two locations in what could be a door opener in the Caribbean, companies said.

Two companies, the Petroleum Corporation of Jamaica and CGG GeoConsulting, said oil was found flowing at two sites during petroleum field work.

"This significant find marks the first documented occurrence of 'live', or flowing, oil from onshore Jamaica and will be of particular interest to oil explorationists focused on Central America and the Caribbean," they said in a joint statement.

Jamaica is considered frontier territory for oil and gas explorers. Tullow Oil, a British company that focuses in part on pioneer opportunities, has a license there from 2014 in shallow waters on the south of the island nation.

According to Tullow, oil and natural gas were seen in 10 of the eleven onshore and offshore wells drilled in Jamaica to date. The company said it was still reviewing seismic data that's used to get a better understanding of the reserve potential.

In November, the company sold off a 20 percent stake in its full-operating interest in a license area in Jamaica, but secured a license extension so new seismic surveys could begin in April.

"The discovery of these seeps indicates the presence of working petroleum systems on the island that are generating and expelling liquid hydrocarbons to the surface," CGG GeoConsulting and the Petroleum Corporation of Jamaica announced.

To the north in Cuba, authorities there issued the consent necessary for Australia's Melbana Energy to move forward with plans for oil drilling onshore. The company's Alameda-1 prospect near the northern coast of Cuba is targeting a reservoir with more than 2.5 billion barrels of oil in place.


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OIL AND GAS
Iran, India shake hands on energy
Washington (UPI) Feb 19, 2018
After signing a handful of agreements in India, Iranian President Hassan Rouhani said his country was ready to meet the country's energy needs. The Iranian president led a delegation to India last week, rounding up his visit by signing around a dozen memoranda of understanding. A joint statement from a meeting between Rouhani and Indian Prime Minister Narendra Modi outlined "long-term" partnerships and a desire to reach "appropriate results on energy cooperation." India has long been on ... read more

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