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Panama claims it has oil, and bids are to be invited

Wednesday, July 6, 2011

A geological study has revealed the presence of oil in four Panamanian regions, said the country’s energy secretary, Juan Urriola.

Bids will be invited for exploration of the quality and quantity of the oil, Urriola added.

The study lasted for seven months. It was carried out by a Venezuelan company, OTS Internacional. The discoveries were made in the provinces of Bocas del Toro and Darién, as well as Azuero in central Panama and on the Caribbean coast.

Original source (in Spanish): Efe