United Oil presses Jamaica farm-out as Strait of Hormuz ‘closure’ reprices prospect
Business
Finance
June 26, 2026
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Offshore oil exploration firm United Oil & Gas Plc expects to secure a joint-venture partner by October, according to its full-year results published this week.
The company cited the disruption to global oil supply caused by the “effective closure” of the Strait of Hormuz as a factor sharpening investor interest in its Jamaica licence.
"Our farm-out strategy has gained momentum," Chief Executive Brian Larkin said. "The strategic value of Atlantic-facing acreage with direct access to major markets has been fundamentally repriced, and Jamaica sits squarely in that category."
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