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Border dispute between Costa Rica and Nicaragua could hinge on oil reserves

Monday, March 21, 2011

The territorial dispute that has Costa Rica and Nicaragua facing off in the International Court of Justice could have implications for control over potential petroleum and natural gas reserves in the Caribbean, according to the Costa Rican daily La Nación.

The area believed to contain oil and gas reserves is known as Block 11, and was discovered in the 1980s by Costa Rica’s national oil refinery, Recope.

The dispute before the world court centers on a coastal stretch of marshland both countries claim as their own.

Original source: Tico Times