MKJ Exploraciones, a unit of Louisiana-based MKJ Xploration, has signed two offshore oil and gas E&P deals with the government of Nicaragua.
Offshore staff
(Nicaragua)-MKJ Exploraciones, a unit of Louisiana-based MKJ Xploration, has signed two offshore oil and gas E&P deals with the government of Nicaragua.
The six-year deals, signed recently by Nicaraguan Attorney General Alberto Novoa and MKJ President Eric Conrad, calls for MKJ to explore two areas of the Nicaraguan Caribbean. One is located 75 mi east-southeast of Puerto Cabezas and the other is 106 mi northeast of the town of Bluefields.
Both exploration zones have a combined area of approximately 3,100 sq mi.
According to Novoa, if MKJ discovers oil or natural gas in commercially-marketable quantities, the company would be granted a 30-yr production lease. The contract also calls for MKJ to present an environmental impact study to Nicaragua's Natural Resources Ministry and to receive federal approval prior to the offset of operations.
