AUSTRALIA'S GIPPSLAND Offshore Petroleum Ltd. has begun an exploration programme in the Walton basin off southern Jamaica, the Oil and Gas Journal reported yesterday.
The company is running a 7,180 km seismic survey across its four permits in partnership with Finder Exploration, another Australian company. The survey should be completed in May and results known by September, the Journal stated.
Gippsland expects to identify drillable prospects by year-end or early 2007.
Australian news reports say the partners each hold half shares in four exploration blocks just off the south coast of Jamaica. The reports say that under a production sharing contract signed earlier this year, if oil or gas is discovered, a 12.5 pct royalty will be given to the Petroleum Corporation of Jamaica.
