Costa Rica reacts to hydrocarbons exploration in Nicaragua

After the signing of a contract between the government of Nicaragua and a norwegian company to explore for hydrocarbons, Costa Rica has noted that the award was made on disputed maritime areas in the International Court of Justice.

Tuesday, June 2, 2015

An article in Nacion.com reports that "... Foreign Minister Manuel Gonzalez said he prepared the letter to the company that received the rights to explore and exploit hydrocarbons in the Pacific coast, in an area that lacks clear boundaries between the Costa Rican and Nicaraguan territory."

The letter is a clear warning about the legal uncertainty that such a concession for prospective petroleum activity involving an investment of $100 million would have.

The Costa Rican Foreign Minister said: "... It is an informative note to say that some of the blocks that Nicaragua has put up for concession could be in Costa Rican territory. Any agreement that they (Statoil) made with the Government of Nicaragua could be deemed to be flawed in an international lawsuit."



More on this topic

Oil Exploration Contract in Nicaragua

July 2016

The Canadian company Union Oil & Gas Group has announced that an agreement signed with the Ortega administration will allow them to carry out exploration works in the Sandino Basin in the Pacific.

This agreement is added to the four signed in June last year with Statoil for exploration and extraction works in a total area of 16 thousand square kilometers, also in the Pacific.

Oil Company Loses Law Suit in Costa Rica

December 2014

A court has ruled against the lawsuit brought by the US company Harken Energy against the Costa Rican government for canceling a contract to prospect for hydrocarbons in the Caribbean.

Harken Energy in 1998 won a 20-year contract with the government of Costa Rica for prospecting and exploiting oil in areas of the Caribbean.

Oil Contract Approved in Guatemala

August 2013

The government has awarded the company City Petén a contract for exploration and exploitation of oil in the Yalcanix area in the department of Petén.

Jose Paez, legal representative of City Peten, said they plan to start environmental impact studies and in the next three years will be investing $30 million during the exploration stage.

Oil Exploration Contract Approved in Honduras

April 2013

The Honduran Executive has approved an oil concession in the Caribbean to the British company BG Group.

From a press release issued by the Presidency of Honduras:

The Cabinet on Tuesday approved a contract for exploration and subsequent exploitation of hydrocarbons in the sea area of ​​Mosquitia, on the Caribbean coast of Honduras, awarded to the British company BG Group.