• Costa Rica Coffee Guide

Canadian Firm Strikes Oil in Western Nicaragua

September 5, 2008

MANAGUA – A Canadian energy company expects to pump some 5,000 barrels of petroleum from a well in western Nicaragua in the next two months, Energy and Mines Minister Emilio Rappaccioli told state media.

Pumping the crude out of the well “is a good sign that probably the petroleum that is there can be exploited commercially,” the energy minister told Radio Nicaragua.

Rappaccioli said Canada’s Norwood Resources had a concession in the Pacific region to explore for oil and had drilled three wells in 19 months.

In May, Norwood said that in light of the initial exploration work conducted in the San Bartolo region, located 50 kilometers west of Managua, it was examining the possibility that a field with “significant hydrocarbons” existed in Nicaragua.

The energy minister said Norwood had drilled to a depth of nearly 3,000 meters “and they have found clear traces, specifically, of liquid petroleum and gas.”

These traces “substantially improved” in the third well and the company agreed to drill once again “with the goal of getting petroleum out and not to study or explore,” Rappaccioli said.

“It’s expected that 4,000 or 5,000 barrels of petroleum will be brought out in the next two months,” the energy minister said, adding that it would take six months to know whether the field was commercially viable.

The Nicaraguan government has also granted oil concessions in San Rafael del Sur, a city in the Pacific region, to Oklahoma-Nicaragua, S.A., known as Indoklanicsa, and concessions in the Caribbean region to U.S.-based MKJ Exploraciones Internacionales S.A.

 

You may be interested

DIMEX required for vaccination, Costa Rica says
Costa Rica
16394 views
Costa Rica
16394 views

DIMEX required for vaccination, Costa Rica says

Alejandro Zúñiga - March 3, 2021

Costa Rica began administering coronavirus vaccines in December 2020, and the country hopes to inoculate its entire adult population. We've…

Campaign to help families, businesses in Guanacaste
Business
1247 views
Business
1247 views

Campaign to help families, businesses in Guanacaste

The Tico Times - March 3, 2021

Costa Rican authorities this week relaunched a campaign to support businesses and provide meals to tourism employees who lost their…

24 travelers have been caught with falsified Covid tests: report
Costa Rica
1846 views
Costa Rica
1846 views

24 travelers have been caught with falsified Covid tests: report

The Tico Times - March 3, 2021

Twenty-four travelers have been penalized after presenting falsified coronavirus test results when trying to leave Costa Rica through Juan Santamaría International…