OTS Latin America Searches Oil and Gas in Panama

The company was contracted by the Government in order to identify potential areas for exploitation.

Friday, January 7, 2011

The study to be conducted throughout the country will be funded by the Corporación Andina de Fomento (CAF) and the State.

Referring to the areas studied, the Minister of Economy and Finance mentioned Bocas del Toro, in the border with Costa Rica, south of Chiriqui, the Gulf of Panama and the Gulf of Uraba.

"The study will shed some light on which areas would have greater chances of success during exploration," added the minister to Prensa.com.

More on this topic

Panama to Explore for Oil and Gas

July 2010

With the help of funding from the CAF, the country will contract an exploratory study to test for the existence of oil and gas deposits.

Frank De Lima, Panama’s Vice-Minister of the Economy, commented that the aim of the study is to establish areas with potential deposits of oil and gas.

Russia Will Explore Oil in Nicaragua

July 2009

Russia and Nicaragua formalized an energy cooperation agreement, to explore oil in the country.

Igor Sechin, Russia's Deputy Prime Minister, informed that exploration, both in land and Nicaraguan waters, will be carried out by the National Petroleum Consortium of Russia, comprised by the largest Russian oil companies.

Oil exploration on Nicaraguan Caribbean coast

December 2008

The government will sign two concession contracts with Infinity Energy for oil and natural gas exploration and exploitation.

According to the article from "Proceso Digital," the Nicaraguan vice-minister of Energy and Mining, Lorena Lanzas, pointed out that "the granting of these concessions have already been approved by the Regional Governments of the Southern and Northern Caribbean coast of Nicaragua, in accordance with the law."

Another Tender for Oil in Guatemala

March 2012

The Minister of Energy and Mines has announced that in April 2012 a tender will be put out for oil exploration and development in six different areas of the country.

Minister Erick Archila said he expected to receive bids and make the award in August and September of this year, giving a period of four months to promote competition within and outside Guatemala.

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Ministerio de Energía y Minas de Guatemala

Organization that operates in Guatemala.
Phone: (502) 2419 6464

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