Eqionor's Operations in Nicaragua

Source Company Web Site
Company Cairn Energy PlcEquinor ASA 
Tags Asset Deals, Deals, Upstream Activities
Date May 17, 2019

In October 2018 Cairn Energy entered as a partner with 35.1% equity in the licences. After the transaction, Equinor is the operator with 49.9% equity. Empresa Nicaraguense del Petroleo (Petronic) participates with the remaining 15% equity.

The licences cover an area of about 16,000 square kilometres in the Sandino Basin.

The partnership has a step-wise exploration programme for the area. The initial work commitments during the first exploration phase of 3.5 years include acquisition of new seismic 2D data, re-processing of old 2D seismic data and geological and geophysical studies. During Q3 2018, a total of 3,187 square kilometres of 3D seismic data and 1.759 kilometres of new 2D seismic data were acquired. Based on initial encouragements it has been decided to start preparations for drilling the Mango-1 well.

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