BG Group to start Honduras oil exploration

British oil and gas company BG Group will soon begin oil and gas exploration on Honduras's Atlantic coast with an initial investment of at least $20 million.

Honduran authorities plan to give the company an environmental license on Friday for an offshore block of 35,000 square kilometers off the coast of La Mosquitia.

"If they give us the environmental license tomorrow, next week we will begin exploration work," Carlos Quintana, a BG Group executive, said.


Source: Reuters