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 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."

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