Jamaica: PCJ extends Sagres Energy offshore blocks
Petroleum Corp. of Jamaica has extended production sharing agreements held by a subsidiary of Sagres Energy Inc., Calgary, on offshore blocks 9, 13, and 14.
Petroleum Corp. of Jamaica has extended production sharing agreements held by a subsidiary of Sagres Energy Inc., Calgary, on offshore blocks 9, 13, and 14.
The three blocks held by Sagres’s Rainville Energy Corp. unit total 8,864 sq km. PCJ extended the first exploratory phase until Apr. 30, 2012, to allow potential joint venture partners time to complete an evaluation of the blocks. Sagres Energy is discussing farmouts with several parties.
Sagres Energy said it is “excited by the potential of the La Concepcion prospect, a prospect mapped straddling Blocks 9 and 13, with an independent evaluation establishing a gross mean prospective resource estimate of 3 billion bbl.”
About the Author
Alan Petzet
Chief Editor Exploration
Alan Petzet is Chief Editor-Exploration of Oil & Gas Journal in Houston. He is editor of the Weekly E&D Newsletter, emailed to OGJ subscribers, and a regular contributor to the OGJ Online subscriber website.
Petzet joined OGJ in 1981 after 13 years in the Tulsa World business-oil department. He was named OGJ Exploration Editor in 1990. A native of Tulsa, he has a BA in journalism from the University of Tulsa.
