Nicaragua: Repsol to explore for oil off Caribbean

Nicaragua: Spanish oil company Repsol interested in exploring for oil off Caribbean

Associated Press

MANAGUA, Nicaragua (AP) -- A Nicaraguan official says Spain's Repsol is interested in exploring for oil off its Caribbean coast and that its explorations could include waters that were recently awarded to the Central American country by an international court.

Energy and Mines Minister Emilio Rappaccioli says Repsol has already submitted an official request to the Nicaraguan government.

He said Wednesday that Repsol has yet to decide where it will explore more in depth and that Nicaragua would allow for them to look for oil in the waters the International Court of Justice awarded them last month.

The court affirmed Colombian sovereignty over a Caribbean archipelago off Nicaragua but said some waters around the islands belong to the Central American nation.

Those waters are valued for potential oil and gas deposits beneath them.

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