Paulwell taps Canadian Sagres to drill for Oil in 2013AD - Partner found for South Coast Oil Boom

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 15^th 2006 AD, announced Friday August 27^th 2010 AD and reported in detail on Wednesday September 1^st 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.