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Nicaragua hunts for oil following sovereignty judgement

Wednesday, November 21, 2012

Nicaragua wants to look for oil, after the International Court of Justice gave the country sovereignty of 90,000 kilometres of the Caribbean sea, following a dispute with Colombia over a group of islands.

"It's likely that some oil companies will visit us with serious plans to explore" said Nicaragua's minister of Energy and Mining, Emilio Rappaccioli.

In 2008, Nicaragua gave two contracts for the exploration and exploitation of oil and gas to American company Noble Energy.

Full story (in Spanish)