It
looks like the Oil Exploration bug has finally caught on to the GOJ as it has
the overjoyed Trinidadians, whose state-owned PETROTRIN recently discovered
additional 48 million barrels of Oil fields in the shallow waters in the Gulf
of Paria four (4) miles west of Point Fortin as announced in my blog
article entitled “Trinidad
and Tobago Discover new reserves of Oil in shallow water - God is indeed a
Trini and Jamaica courts them for LNG again”.
Minister
of Science, Technology Energy and Mining Phillip Paulwell has made it Jamaica’s
priority to drill for Oil com the first Quarter of 2012AD. This as hinted in
the article “Jamaica
to drill for oil next year - Paulwell”, published Monday May
21, 2012 9:02 am, Nedburn Thaffe, The
Jamaica Gleaner.
Phillip
Paulwell made this announcement during an awards banquet for Geologists at the
University of the West Indies on Saturday May 19 2012AD. It appears that the focus
is deep-water drilling, much as was the case with the Trinidadians, as their
discovery in shallow water suggests undiscovered Oil Field lie in wait in
Deeper waters as noted in the article “Trinidad
makes major Oil discovery” published Sunday April 1, 2012, The Jamaica Gleaner.
Here
in Jamaica, Drilling is commence off the coast of St. Elizabeth and will be
done in partnership with Canadian oil and gas exploration company, Sagres. If
your memory is go, you should remember Sagres as the company that had
discovered promising Oil prospects but had no money to drill as they were
looking for a drilling partner as noted in my blog
article entitled “Alternative
Energy and Jamaica's Oil Prospects - Carletta DeLeon, The Spy who Loved Me”
and “Alternative
Energy and the Recent Oil Discovery in Jamaica - The Merchant of Venice”.
With
this recent announcement, it would appear that Sagres Energy, the parent of
Canadian firm Rainville Energy that had drilling rights in Jamaica since
Thursday June 15th 2006 AD, announced Friday August 27th
2010 AD and reported in detail on Wednesday September 1st 2010 as
stated in the article “Jamaica may have 3
billion barrels of Oil”,
published Wednesday, September 01, 2010, The Jamaica Observer,
has found a partner to begin drilling in the First Quarter of 2013AD
That blast-from-the-past article
reads, quote: “Results of an independent evaluation of the resource potential
of certain prospectus identified in Sagres' blocks 9, 13 and 14 in the
shallow-waters (20 meters) of the Pedro Bank 120 km offshore Jamaica show(s) a
gross mean prospective resource estimate (Oil) of three billion barrels”.
Albeit this is not the same as the
Southern Coastline of St. Elizabeth as mentioned by Minister
Phillip Paulwell, it is still good news, as it effectively implies that Jamaica
had more oil in more places than we thought and in deep-water locations.
More
importantly, it means that out-of-work JAMALCO Engineering and Technical people
with knowledge of Mechanical, Electrical and Telecommunications systems,
specifically Ship-to-Shore Telecoms systems, will soon be making salaries in
the magnitude of five (5) times that which is being offered at JAMALCO or
anywhere else for that matter.
This
as the impending Oil Crunch, better known as Peak Oil as ominously predicted by
the IEA (International Energy Agency) as stated in the article “IEA
official warns of shrinking oil supplies: Report”, Sunday August 2nd, 9:04 pm ET, AFP, Yahoo News
and backed up by the dire warning in statements attributed to Sir Richard
Branson of Virgin as stated in the article “World
faces Oil Crunch by 2015”, published Sunday 14 February
2010, AFP, The
Jamaica Herald hearken the coming of higher Oil Prices
by 2015AD.
Such
a prospective boom in the price of Oil before Americans and Europeans make the
full transition to LNG for both Electricity and Motor Vehicles means that
Jamaica and make billions from the export of refined Oil. More importantly,
this money can be used to fix Jamaica’s infrastructure and jump-start our US
Recession Battered Economy as opined in my blog
article entitled “Bruce
Golding, Corruption in the PCJ and the search for Oil”.
This
as opined by then in Opposition Bruce Golding at a Speech which he gave to the
Students of the University of the West Indies while re-launching G2K
(Generation 2000), the youth arm of the JLP (Jamaica Labour Party) in 2006 as
stated in the article “Golding
urges students to look into oil prospects”, published
Friday February 23, 2007, The
Jamaica Gleaner.
Most
importantly, as this is on the South Coast, it may herald the coming of the much
promised South Coast Development as opined in my blog
article entitled “South
Coast development in Clarendon necessary for JLP victory” and sustainable
development of Jamaica that the South Coast Oil Boom would bring.
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