Statoil has signed a Petronic-Statoil cooperation agreement (a letter of intent) with intent to find ways to cooperate in oil and gas activities offshore Nicaragua’s Pacific coast, Statoil said in a news release.
The Statoil and Petronic consortium also has sent a request to the Nicaraguan Ministry of Energy of Mines (MEM) to request the start of exclusive negotiations for concession contracts offshore Nicaragua’s Pacific coast. This request is pending MEM approval. Statoil said this is an early phase, but a first step toward possible exploration activities offshore Nicaragua.
Separately, Geoex International has signed a cooperation agreement with Petronic with the intent to conduct a 2-D seismic survey covering an area of 32,000 sq km (12,355 sq miles) off Nicaragua’s Pacific coast. Contrary to what some recent media reports indicate, Statoil said it is not party to this agreement.
Recommended Reading
US NatGas Flows to Freeport LNG in Texas Seen at Five-month High, LSEG Data Shows
2024-05-17 - The startup and shutdown of Freeport and other U.S. LNG export plants often has a major impact on global gas prices.
Canada’s Pembina Pipeline in No Rush to Invest in TMX
2024-05-14 - The Trans Mountain Pipeline’s toll structure has too much "uncertainty," said Pembina CFO Cameron Goldade on an earnings call.
LM Energy to Expand Gas Gathering System in the Delaware
2024-05-13 - LM Energy is building new compressor stations and adding 70 miles of pipeline in the Delaware Basin.
ONEOK to Expand NGL Network Around Houston Through $280MM Acquisition
2024-05-13 - Easton Energy is agreeing to sell 450 miles of lines along Southeast Texas coast to ONEOK.
Enbridge Plans to Increase Permian Oil Pipeline’s Capacity
2024-05-10 - Midstream company Enbridge announced an open season on the Gray Oak Pipeline for a proposed 120,000 bbl/d expansion and updated its M&A efforts.