UOG Completes Offshore Jamaica Farm-In
Oil and gas exploration and development company United Oil & Gas (UOG) Plc announced Friday that it has completed its farm-in to the Walton-Morant License, located offshore Jamaica.
The company now owns a 20 percent interest in the license, with Tullow holding the remaining 80 percent operated stake.
“The Petroleum Corporation of Jamaica has granted its approval to the assignment, assumption of obligations and transfer of the 20 percent interest in the Walton-Morant License to UOG with the effect from 1ST March,” UOG said in a company statement.
Tullow intends to commence the acquisition of 3D seismic within the license later this month, UOG confirmed.
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