INE to Keep 2nd Round Data Room Open Through February

Nicaragua's energy regulator INE will keep the data room open through February for second round bidding for offshore oil E&P contracts, an INE hydrocarbons department official told BNamericas.

The new date is part of the round's newly released updated bidding timetable in light of the November 5 presidential election, the official said.

Pre-qualification also is due to wrap up in February and pre-qualifiers will be able to purchase bidding rules in March. Offers are due to be submitted at the end of March.

Blocks in the second round cover 84,123 sq km offshore Caribbean and 33,546 sq km offshore Pacific.

Contracts in this latest round will mirror those in the first round with up to 4,000 sq km per contract. The contracts' exploration period is six years and 30 years for production.

Five E&P concession contracts were signed for the first round: Industrias Oklahoma Nicaragua (Indoklanicsa) picked up 19 Pacific offshore blocks (3,423 sq km); Infinity picked up Caribbean areas in the Perlas (2,291 sq km) and Tyra (3,330 sq km) blocks; and MKJ Exploraciones won areas in Perlas (4,000 sq km) and Tyra (4,000 sq km).


Indoklanicsa's operator, Vancouver-based hydrocarbons exploration and development company Norwood Resources, reported Mexican drilling services firm Multiservicios de Perforacion Geopetroleros' (MPG) rig 15 has completed modifications and inspections and is en route to Nicaragua to begin the company's initial drilling program.

The first location, San Bartolo Rodriguez Cano 1, is under construction and will be ready when the rig arrives in roughly 15 days, Norwood said in a statement. The second location, Las Mesas Gutierrez Mendez 1, is also under construction.

Visit BNamericas to access our real-time news reports, 7-year archive, Fact File company database, and latest research reports. Click here for a Free two week trial to our Latin America Oil & Gas information service.


Our Privacy Pledge

Most Popular Articles

From the Career Center
Jobs that may interest you
United States Houston: Account Rep, Bus Dev, Sr
Expertise: Business Development|Sales
Location: Houston, TX
Business Development Manager
Expertise: Business Development|Construction Manager|Sales
Location: Tempe, AZ
SXL- Manager, Business Development
Expertise: Business Development
Location: Newtown Square, PA
search for more jobs

Brent Crude Oil : $50.47/BBL 0.98%
Light Crude Oil : $49.72/BBL 1.09%
Natural Gas : $2.76/MMBtu 1.09%
Updated in last 24 hours