Statoil has signed a Petronic-Statoil cooperation agreement (a letter of intent) with intent to find ways to cooperate in oil and gas activities offshore Nicaragua’s Pacific coast, Statoil said in a news release.
The Statoil and Petronic consortium also has sent a request to the Nicaraguan Ministry of Energy of Mines (MEM) to request the start of exclusive negotiations for concession contracts offshore Nicaragua’s Pacific coast. This request is pending MEM approval. Statoil said this is an early phase, but a first step toward possible exploration activities offshore Nicaragua.
Separately, Geoex International has signed a cooperation agreement with Petronic with the intent to conduct a 2-D seismic survey covering an area of 32,000 sq km (12,355 sq miles) off Nicaragua’s Pacific coast. Contrary to what some recent media reports indicate, Statoil said it is not party to this agreement.
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