UK oil firm sees potential 7 billion-barrel oil find in Jamaican waters

United Oil & Gas plc announced on Wednesday that it has completed analysis of seabed samples collected from the Walton-Morant Licence, an area long considered to hold potential oil and gas reserves.

The company said the results mark an important step toward determining whether offshore drilling could eventually take place.

What the Company Found

United Oil & Gas analysed 42 piston core samples — tubes of sediment collected from the ocean floor — during its recent Seabed Geochemical Exploration (SGE) survey.

The analysis detected C4 and C5 hydrocarbons, including butane and pentane, in several of the samples. These are heavier hydrocarbons that are typically associated with thermogenic gas, which forms deep underground under heat and pressure over millions of years. 

This distinction is significant because thermogenic hydrocarbons are more commonly linked to oil and gas deposits, whereas biogenic gas usually forms closer to the surface and is less likely to indicate large-scale petroleum resources.

According to the company, the findings are consistent with the possibility of an active petroleum system offshore Jamaica.

Building on Earlier Evidence

United Oil & Gas said the latest findings add to existing indicators that petroleum may be present in Jamaican waters. These include satellite-detected oil slicks, hydrocarbon evidence from previous wells, oil seeps both onshore and offshore, and surface rock formations believed to be capable of generating oil.

The company noted that the 2026 survey is the first in the licence area to be optimally positioned using a combination of 3D seismic data, seabed mapping technology, and satellite-derived slick anomaly data — tools designed to improve exploration accuracy.

Next Steps Toward Possible Drilling

The company said it will now incorporate the new data into its geological models as it evaluates whether drilling should move forward. The information will also support ongoing discussions with potential partners to help fund exploration activities.

Chief Executive Officer Brian Larkin described the results as an important development.

“These results enhance our understanding of the licence and provide an important input as we advance towards a drilling decision,” Larkin said, noting that the company is continuing discussions with interested parties.

United Oil & Gas estimates the Walton-Morant licence could contain approximately 7 billion barrels of prospective resources, though this represents potential rather than confirmed reserves.

The company, which is listed on the London Stock Exchange’s AIM market, maintains that further technical evaluation is still required before any drilling decision is made. However, the latest findings are viewed as encouraging in the early stages of offshore exploration.