Norwegian Company Begins Search For 300 Million Barrels of Oil in Nicaragua

The search for oil in Nicaragua will be by experts aboard the Norwegian vessel "Polarcus Asima", equipped with state-of-the-art technology, on the Pacific coast

The Norwegian company Statoil on Tuesday began the search for some 300 million barrels of oil, which it predicts exist off the Pacific coast of Nicaragua, reported the state-owned Nicaraguan Petroleum Company (Petronic).

The search is carried out by experts aboard the Norwegian vessel “Polarcus Asima”, equipped with state-of-the-art technology, which reached the port of Corinto on Tuesday, located on the Pacific coast of Nicaragua, said the delegate of Petronic, Mauricio Darce, through Government means.

- payin the bills -

The possible existence of 300 million barrels of “recoverable” oil was noticed by Statoil in September 2016 and confirmed by the Government of Nicaragua last November.

Both Statoil and Petronic hope that “Polarcus Asima” will confirm the oil field using images of the ocean floor in three dimensions, captured through ultrasonic waves.

Statol invested US$51.5 million dollars in the last two years to reach this stage of exploration, according to figures from the Government of Nicaragua.

The Norwegian and Nicaraguan oil companies have the goal of drilling the first exploratory well in 2019, according to the projections of Nicaragua.

- paying the bills -

The Norwegian oil company, established in 2015 in Nicaragua, is allowed to explore some 15,955 square kilometers in the Pacific Ocean, according to public information.

Source (in Spanish): El Nuevo Diario

Related Articles

Nicaragua to renew electoral tribunal, amid claims for impartiality

TODAY NICARAGUA - The Nicaraguan Legislative Assembly, controlled by the ruling...

“Nicaragua is not a Republic, it is a 16th century monarchy”

TODAY NICARAGUA - If he wins the presidency of Nicaragua, the...

MOST READ

Better Air Connectivity Between Nicaragua and the US

The private companies' association is in talks with United Airlines to promote the opening of a route that connects Nicaragua with the east coast...

What Are Some of Nicaragua’s Popular Food?

TODAY NICARAGUA - Nicaragua is an interesting place, with a tumultuous history and a relatively peaceful present. and even if many things can be...

Bianca Jagger Gets Into The Nicaragua Act Again

(American Thinker)  Remember Bianca Jagger? You know, the disco queen and former rock-star's wife turned leftwing "human rights activist" who was last seen mourning...

Nicaragua Unveils Central America’s Largest Baseball Stadium

Nicaragua has unveiled its long-awaited baseball stadium in Managua, replacing the former baseball field built in 1948. The new structure will hold up to...

Nicaragua Praised by the IMF

The IMF noted the positive evolution of all the country's economic indicators, and the drastic fall in poverty, with an increase of 33% in...

Poll Shows Declining Expectations on a Nicaraguan Canal

According to the results of the most recent survey conducted by Cid Gallup, the Nicaraguan interoceanic canal project, a concession given to the Chinese...

Let's Keep This Going!

To be updated with all the latest news and information about Nicaragua and Latin America.

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.