Statoil takes first steps toward exploration offshore Nicaragua

Offshore staff

STAVANGER, Norway – Statoil has signed a cooperation agreement with Nicaragua’s state-owned company Petronic.

The two parties will look to work jointly on oil and gas activities offshore Nicaragua’s Pacific coast.

They have also submitted a request to the Nicaraguan Ministry of Energy of Mines (MEM) to start exclusive negotiations for concession contracts in this region.

The company adds that Geoex International has signed another cooperation agreement with Petronic with a view to acquire 32,000 sq km (12,355 sq mi) of 2D seismic off the country’s Pacific coast.

09/12/2014

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