In all Nicaragua is planning to offer up nearly 68,500 square kilometers of offshore Caribbean territory to explorers, dividing the area up into over 150 blocks
Exploring for Oil in Nicaragua: Friends in High Places
On 17 July, Nicaragua announced that US-based Noble Energy would invest $30 million in drilling two offshore wells in the Caribbean—launching Nicaragua's first-ever oil exploration. The wells will be drilled in the Tyra and Isabel blocks, which have undergone nearly 5,000 kilometers of seismic surveying since 2011. But Nicaragua's first exploration will not go off without a hitch—namely, the revival of a nasty territorial dispute with Colombia, and another with Costa Rica.
