Nicaragua Approves Oil Exploration Concession

Infinity Energy Resources Company, Inc. received government approval to explore 1.4 million acres of the Caribbean Sea coast.

Monday, March 16, 2009

The CEO of Infinity Energy Resources, Stanton E. Ross, manifested in the company’s press release: "The final approval of contracts for exploration [of natural gas and oil] and development by the Ministry of Energy and Mines and the Government of Nicaragua will allow the company to proceed with exploration activities."

More on this topic

Nicaragua Smelling Petroleum

December 2012

Spanish oil company Repsol has announced its interest in exploring oil deposits in the subsoil of the new Nicaraguan Caribbean seas.

Emilio Rappaccioli, Minister of Energy and Mines (MEM), made the announcement in a press conference where he said, "We already have a request from a new company, well known worldwide, Repsol, but the area of interest to them has not not yet been defined. '

EIA Submitted for Nicaraguan Oil Exploration

April 2011

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 Acquires Nicaraguan Offshore Seismic Data

September 2009

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.

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."

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