Offshore Jamaica: NFE sells LNG and FSRU terminals; United gets extension for Walton Morant license
New Fortress Energy (NFE) has concluded terms for the sale of various gas and power facilities in Jamaica to Excelerate Energy for $1.055 billion.
The transaction, which should close by mid-year, includes NFE’s LNG import terminal in Montego Bay and an offshore floating storage and regasification terminal in Old Harbour.
Meanwhile, Irish E&P independent United Oil & Gas has secured a two-year extension to its Walton Morant offshore exploration license from Jamaica’s government until Jan. 31, 2028.
The company plans to use the extension to progress talks with potential farm-in partners and to advance technical work on the concession’s exploration potential.
Some of the interested parties had expressed interest prior to the farm-out process being suspended last December, but there has also been new interest from other groups.
United added that multiple companies under non-disclosure agreements (NDAs) are reviewing the data as part of the farm-out process.
The 22,400-sq-km license is south of Jamaica. Data over the area included 2,250 sq km of interpreted 3D seismic that has helped definition of multiple plays and 11 high-graded exploration prospects.
Gaffney Cline and Associates estimates potential for more than 2.4 Bbbl recoverable from the high-graded structures.
