Nicaragua signs MKJ to Caribbean blocks

By OGJ editors
HOUSTON, Apr. 25 -- The international unit of MKJ Xploration Inc., Metairie, La., signed oil and gas exploration and exploitation concessions with the Nicaraguan government covering two blocks on the Nicaraguan rise in the Caribbean Sea.

The company plans to begin exploration as soon as the government issues permits.

The Tyra Bank and Isabel Bank concessions each cover 988,000 acres. Each has an exploratory term of up to 6 years followed by up to 30 years for production in case of a commercial discovery.

Each work program includes an environmental study, reprocessing existing seismic and geophysical data, acquiring new 2D and 3D seismic data, and drilling an exploratory well.

Previous wells in Nicaraguan and Honduran waters have tested oil and gas at then noncommercial rates, MKJ noted (see map, OGJ, Feb. 7, 2000, p. 69). New seismic data have revealed large untested structures.

Related Articles

MMS chief hopes next president, Congress won't reinstate OCS bans

12/19/2008 US Minerals Management Service Director Randall B. Luthi said on Dec. 9 that he hopes the Obama administration and Congress seriously consider expa...

FERC issues final EIS for proposed LNG project near Baltimore

12/19/2008 The Federal Energy Regulatory Commission's staff identified additional adverse environmental impacts as it issued a final environmental impact stat...

Gran Tierra defers Colombian pipeline project

12/17/2008 Gran Tierra Energy Inc., Calgary, has deferred a 100-km pipeline project in Colombia connecting Costayaco field to the Orito gathering facilities.

Petrobras gets loan for Revap refinery upgrades

12/14/2008 Brazil's Petrobras has borrowed ¥750 billion from a consortium of Japanese banks to finance its investments in the 226,000-b/d Henrique Lage (R...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!


Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected