Jamaica to drill for oil next year - Paulwell

Nedburn Thaffe, Gleaner Writer



The government has signed a deal with Canadian oil and gas exploration company, Sagres, to begin the process of drilling for oil in Jamaica come next year.



The Energy Minister Phillip Paulwell said the drilling will be concentrated on the southern St. Elizabeth Coastline and there will be no financial burden to the government.



While not disclosing specifics, the energy minister said the deal is a production sharing agreement where the government will receive a certain per cent of the oil.



In highlighting the importance of energy to economic growth, Paulwell said it is a matter of urgency for the country to find new energy sources.



Jamaica continues to rely on expensive oil to generate the bulk of the electricity it produces.



Paulwell was addressing a group of Geologists an awards banquet of the University of the West Indies on the weekend.



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