AI Summary
LONDON – Tullow has signed a production-sharing agreement covering 10 full blocks and one part-block offshore Jamaica.
The Walton basin and Morant basin areas cover 32,065 sq km (12,380 sq mi) in shallow water south of Jamaica.
Tullow has committed to perform low-cost studies, reprocessing work and – if it decides to proceed further – acquisition of new 2D and 3D seismic during the initial three-and-a-half-year exploration period.
Oil or gas shows have been reported in 10 of the 11 offshore/onshore drilled in Jamaica to date, the company adds.