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Repsol authorized to expand to Nicaragua

Monday, July 15, 2013

Nicaraguan President Daniel Ortega has authorized his Energy and Mines Minister Emilio Rappaccioli to begin negotiations with Spanish oil major, Repsol.

The talks are for "concluding a contract for the exploration and production of hydrocarbons off Nicaragua's Caribbean Coast," Rappaccioli said.

"They're going to drill the first well, beginning in August with an investment of $30 million," he added.

Source: Breaking News Trinidad & Tobago