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Latin convert Statoil weighs Nicaraguan exploration

Statoil, which entered Colombia in July, tells Interfax it has set its sights on Central American country Nicaragua, which no reserves or production.
By Chris Noon 8 September 2014 Americas / Exploration & Production 0 13441

Norwegian state-controlled giant Statoil has confirmed to Interfax it is seeking to explore offshore Nicaragua, a country with no history of oil and gas production. 

A Stavanger-based spokesman said Statoil had signed a cooperation agreement with Nicaraguan state-run DNP Petronic, and that the two companies were seeking to discuss “concession areas offshore the Pacific coast” with the country’s Ministry of Energy and Mines. 

“This is an early phase, but a first step towards possible exploration activities offshore Nicaragua for Statoil,” he added. 

Nicaraguan state newspaper El 19 reported...