Oil exploration on Nicaraguan Caribbean coast

©image: Nestor Galina

According to the article from "Proceso Digital," the Nicaraguan vice-minister of Energy and Mining, Lorena Lanzas, pointed out that "the granting of these concessions have already been approved by the Regional Governments of the Southern and Northern Caribbean coast of Nicaragua, in accordance with the law."

Source: proceso.hn

More on this topic

Nicaragua Approves Oil Exploration Concession

March 2009

Infinity Energy Resources Company, Inc. received government approval to explore 1.4 million acres of the Caribbean Sea coast.

The CEO of Infinity Energy Resources, Stanton E. Ross, manifested in the company’s press release: "The final approval of contracts for exploration [of natural gas and oil] and development by the Ministry of Energy and Mines and the Government of Nicaragua will allow the company to proceed with exploration activities."

EIA Submitted for Nicaraguan Oil Exploration

April 2011

The company Infinity Energy Resources has completed its Environmental Impact Assessment (EIA) of gas and oil exploration activities in Nicaragua's Caribbean Sea.

In a press release Infinity Energy Resources explained that the approval process should take up to 90 days at the end of which the work on seismic mapping of the 560,000 hectare concession area in Nicaraguan waters will begin.

Study Confirms Nicaraguan Oil Potential

December 2009

The area given under concession to Infinity Resources would contain 3 structures with potential for over 3.00 billion barrels of oil.

The figures are a result of a study conducted by Dutch company Fugro Data Services and Brazilian corporation "Consultoría em Geología Geofísica e Informatica de Petroleo".

Guatemala Readies Bidding Rules for Oil and Gas Blocks

January 2010

President Álvaro Colom informed that Guatemala will publish bidding rules for new oil and natural-gas blocks before the end of next week.

This process is part of a plan to increase the country's oil production to 60.000 barrels a day in 2011, up from the current 16.000. The winner of the auction will be announced 60 days after the publication of the rules.