Panama to Explore for Oil and Gas

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Frank De Lima, Panama’s Vice-Minister of the Economy, commented that the aim of the study is to establish areas with potential deposits of oil and gas.

To date, the Atlantic and Pacific coastal areas near the border with Colombia have been mentioned as possible sites with reserves. In Prensa.com De Lima was reported as saying yesterday that there could also be deposits in the Azuero Peninsula and near the border with Costa Rica.

Of the total cost of the $476,000 study the Andean Development Corporation (CAF) will provide $381,420.

Source: Prensa.com

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