• United Oil & Gas Plc, the oil and gas company with a high-impact exploration asset in Jamaica and a development asset in the UK, is pleased to announce that Iman Hill, United's Non-Executive Director, has agreed to provide consultancy services to support the progress of the Jamaican project.
• Iman is a highly experienced Petroleum Engineer and has been working in the oil and gas industry for over 30 years.  She has extensive global expertise in both the technical and commercial aspects of the petroleum business, which includes field development, capital projects, commercial negotiations, farm-outs and production operations.
• Iman’s experience spans the Middle East, North and West Africa, South America, the Far East, and the North Sea. She has worked in diverse settings from onshore to ultra-deep water with companies like BP, Shell, BG Group and Dana Gas. In addition to her role as Technical Director, GM UAE and President Egypt, she also ran one of the Egyptian joint ventures as Managing Director and Board member of the Egyptian Bahraini Gas Derivatives Company.
• United Oil’s Chief Executive Officer, Brian Larkin commented: "Iman is a valued member of our board and I am pleased that she has agreed to provide additional support to the Jamaican project during this pivotal phase as we advance our work program and the farm-out process. Iman's extensive experience of farm-outs will greatly benefit the team in the months ahead, and I'm excited to collaborate with her."
• United Oil & Gas has been granted a license by the Jamaican Ministry of Science, Energy, Telecommunications, and Transport (MSETT) to explore oil off-shore Jamaica until Jan. 31, 2026. This license covers 22,400 square kilometers and could contain over 2.4Bn barrels of fuel resource.

(Sources: United Oil & Gas, NCBCM Research)

• Real GDP for the Jamaican economy increased by an estimated 1.7% during the fourth quarter of 2023 compared to the fourth quarter of 2022. This resulted from growth in both the Services and Goods Producing Industries of 2.0% and 8%, respectively.

• All the industries within the Services Industries grew, except for the Producers of Government Services, which declined by 0.4%. There were improved performances in Hotels & Restaurants (8.3%), Transport, Storage & Communication (2.1%), Wholesale & Retail Trade; Repairs; Installation of Machinery & Equipment (1.0%), Other Services (1.1%), Finance & Insurance Services (3.6%), Real Estate, Renting & Business Activities (1.3%) and Electricity & Water Supply (5.2%).
• Growth in the Goods Producing Industries was influenced by higher output levels in the following industries: Agriculture, Forestry & Fishing (2.6%), Manufacturing (0.3%) and Mining & Quarrying (21.5%). The Construction industry, however, declined by 3.8% due to reduced activities in building construction and civil engineering. Lower expenditure on the South Coast Highway Improvement Project was the main contributor to the fall in the civil engineering group.

• Preliminary estimates for 2023 indicate that the Jamaican economy expanded by 2.6% in real terms reflecting growth in both the Services and Goods Producing Industries of 3.0% and 1.6%, respectively. Notably, this estimate is 0.6% higher than the 0% projection from the IMF in October.

(Sources: STATIN)

• The twin-island nation of Antigua and Barbuda has made significant strides in its global ranking, now standing at 54 among 193 countries in the United Nations Human Development Index (HDI). 
• The HDI is a summary measure of average achievement in key dimensions of human development: a long and healthy life, being knowledgeable, and having a decent standard of living.
• This marks a remarkable climb of 17 places over a relatively short timeframe, from its 2021 rank of 71 and places the country in the “very high” category of the HDI.
• Prime Minister Gaston Browne has hailed this achievement as especially notable in light of the challenges posed by the COVID-19 pandemic.
• “Well, I think it’s an astonishing achievement when you look at the fact that our country’s economy was decimated in 2020 by COVID. We lost 18% of GDP and that we have actually bounced forward to the extent now that the Antigua and Barbuda economy is easily the most vibrant within the Caribbean region, barring Guyana with their recent oil find.”
• In the Caribbean region, Antigua and Barbuda now ranks second, after St Kitts and Nevis at 51. Further to this, Bahamas is ranked at 57, Trinidad at 60, Barbados at 62, and Jamaica at 115.

(Source: Antigua Observer)