LatinNews Daily - 27 June 2018

Nicaragua: Nicaragua’s state-owned oil company, Empresa Nicaragüense de Petróleo (Petronic), has announced that Norwegian oil firm Statoil (which rebranded as Equinor on 15 May) hopes to confirm the existence of 300m “recoverable” barrels of oil off the country’s Pacific coast. Experts on board the Norwegian ship 'Polarcus Asima' are using ultrasonic waves to produce 3D images of the seabed in order to map the offshore field, which was first discovered in September 2016. Government statistics show that Statoil has invested US$51.1m in exploring the area over the past two years, and there are plans to drill the first exploratory well in 2019. The Norwegian firm, which has operated in Nicaragua since 2015, has permission to explore 15,955 km² of the Pacific Ocean.

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