Infinity Energy has confirmed that the analysis of seismic studies in the Caribbean zone where they have a concession suggest the existence of deposits of natural gas.
An article in Rlp.com.ni reports that Stanton E. Ross, CEO of Infinity Energy Resources, noted that "... an analysis of recent seismic data, undertaken by the geosciences company CGG determined, through seismic mapping, 'the presence of a fifth structure below our oil and gas concessions offshore."
Four awards have been made so far in the Caribbean and in the Pacific, to Noble Energy, Infinity Energy and Industrias Oklahoma Nicaragua.
According to the Minister of Energy and Mines (MEM), Emilio Rappaccioli, "the company Noble Energy, which between 2013-2015 will invest between $180 million and $670 million is at the moment making progress in drilling the first well, but in Nicaraguan waters" reported Elnuevodiario.com.ni .
The company Infinity Energy Resources has completed its Environmental Impact Assessment (EIA) of gas and oil exploration activities in Nicaragua's Caribbean Sea.
In a press release Infinity Energy Resources explained that the approval process should take up to 90 days at the end of which the work on seismic mapping of the 560,000 hectare concession area in Nicaraguan waters will begin.
Infinity Energy Resources, owner of oil and gas concession in Nicaraguan waters, acquired seismic data for them.
Infinity Energy Resources, Inc. , an independent oil and gas exploration and development company, today announced that it has entered into a licensing agreement with Fugro Data Services AG that will allow the Company to acquire 2-D seismic data covering its approximately 1.4 million-acre oil and gas concessions offshore Nicaragua.
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."