Nicaragua says Ecopetrol cannot be allowed oil concessions in disputed waters

Nicaragua’s hydrocarbons director said Colombia shouldn’t be allowed to offer oil concessions in Caribbean waters control of which the Central American country is fighting for in the International Court of Justice.

Colombia’s state oil company, Ecopetrol, was the highest bidder June 22 for two exploration blocks in waters near the Caribbean island of San Andres. Nicaragua claims one of the blocks and part of the other, said Veronica Artiles, head of hydrocarbon development for Nicaragua’s Ministry of Energy and Mines.

“That’s impossible because those blocks are currently in litigation in The Hague,” Artiles said by phone from Managua. “They cannot grant concessions until the case is resolved.”

Original source: Bloomberg