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Deal signed for offshore
Nicaragua exploration
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.
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