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Oil company claims Nicaragua claims to have potential

Monday, November 12, 2012

After years of exploration, oil company Oklahoma Nicaragua estimates that Nicaragua has some 27.6 million barrels of high-quality crude oil waiting to be pumped from the ground in the municipality of San Rafael del Sur, according to a company report presented to the government last week.

The report, which was obtained by La Prensa, claims Nicaragua has the conditions to become Central America’s first oil-producing nation within five years, according to an article published today in the Nicaraguan daily.

The oil company also found the existence of natural gas at its exploration site just south of Managua, according to the report in La Prensa.

Source: Nicaragua Dispatch