Kingston, Jamaica – Recent weeks have seen a flurry of speculation across social media about the purported discovery of vast oil reserves in Jamaica, forcing Energy Minister Daryl Vaz to address and dismiss these claims as unfounded.
Speaking on Sunday, Vaz categorically denied the circulating reports that oil had been discovered on Jamaican shores, calling the posts “absolutely fake news.” His statement came in response to viral rumors suggesting the discovery of oil reserves equivalent to seven billion barrels, with some even theorizing a government cover-up.
“I have seen many posts on social media and received numerous WhatsApp messages and telephone calls regarding this fake news. Let me be unequivocal—there is no truth to the claims that oil has been discovered on or off our shores,” said Vaz. He further emphasized, “I, as minister, would be the first to share any such good news. Until that time, please disregard all information relating to an oil discovery in Jamaica.”
Despite Vaz’s vehement denial, the British-based company United Oil Plc continues to generate interest with its ongoing exploration efforts. United Oil holds the license to explore oil and gas potentials off Jamaica’s south coast, specifically eyeing fields off St Elizabeth and Westmoreland that have been identified as having massive potential.
Earlier this year, United Oil announced that from 21 leads, the potential for seven billion barrels of oil exists. Furthermore, clues from previous explorations suggest that nearly five billion more barrels could be present, which would nearly total a staggering 12 billion barrels of oil. If realized, these reserves would place Jamaica among the top 20 oil producers globally, surpassing established players like Brazil, Norway, Mexico, Colombia, and Ecuador.
Financial and Strategic Plans
The pathway to turning these promising leads into viable oil production is heavily dependent on substantial financial backing. United Oil and Gas has already invested US$40 million to gather exploratory data but notes that it requires additional investors to cover the cis drilling expenses. The company has set a deadline of January 2026 to decide whether to “drill or drop” the license, although they have indicated an intention to proceed ahead of the 2028 timeline.
In light of these prospects, the company has ambitious plans to transform Jamaica into a regional hub for oil and gas, potentially sparking new industries such as aluminium production.
The Road Ahead
Although the current discourse about the discovery of oil in Jamaica has been officially debunked as misinformation, the activities underway by United Oil and Gas hold promise. Should their exploration efforts bear fruit, the potential economic impact could be transformative for the island nation. For now, all eyes remain on the upcoming years as Jamaica awaits definitive answers regarding its untapped resources.
In summary, while the rumor mill continues to churn, both the Jamaican government and United Oil and Gas maintain a cautious yet optimistic outlook on what the future holds. Pending conclusive findings, the narrative around Jamaica’s potential as an oil and gas producer remains one of watchful anticipation rather than immediate celebration.
