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Nicaragua's acepting pre-qualifications for second round offshore oil E&P contracts
Petroleumworld
CARACAS
Petroleumworld.com 05 18 07Nicaragua's energy and mines ministry has open pre-qualification for second round offshore oil E&P contracts following a temporary suspension, the ministry's oil development director Verónica Artiles, told news media.
"the pre-qualification process for participation in a future round is still in force," Artiles said.
The new energy and mines ministry created by president Daniel Ortega, who took over from Enrique Bolaños on January, has taken over oil exploration activities from energy regulator INE.
In the previous pre-qualification close in February, four companies had pre-qualified.
All the information on hydrocarbons activities and events will be available a new energy ministry website, Artiles said.
Nicaragua's second round cover 84,123 sq km and 33,546 sq km offshore the Caribbean and Pacific coasts respectively.
Contractsare the same as the first round contracs with up to 4,000 sq km per contract. The exploration and production periods are six and 30 years respectively.
In the first round five E&P concession contracts were signed: Industrias Oklahoma Nicaragua (Indoklanicsa) picked up 19 Pacific offshore blocks (3,423 sq km); Infinity Energy Resources (Nasdaq: IFNY) Caribbean areas in the Perlas (2,291 sq km) and Tyra (3,330 sq km) blocks; and MKJ Exploraciones areas in Perlas (4,000 sq km) and Tyra (4,000 sq km).
Petroleumworld 17 05 07
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