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Repsol shows interest in Nicaraguan offshore oil

Thursday, December 6, 2012

Spain's Repsol is interested in exploring for oil off Nicaragua's Caribbean coast and its exploration could include waters that were recently awarded to the Central American country by an international court, an official said Wednesday.

Nicaraguan Energy and Mines Minister Emilio Rappaccioli said Repsol has already submitted an official request to the Nicaraguan government and it has started doing some preliminary studies.

The company is exploring some areas in order to assess the feasibility of searching for oil there and once that's decided they will determine where to conduct more in-depth searches, he added.

Source: AP