MANAGUA– US oil firm Noble Energy is set to start drilling in August on Nicaragua's first offshore Caribbean well, with about a 25 per cent chance of success, a company official said on Wednesday.
Noble senior vice president Susan Cunningham said the Houston, Texas-based company would be able to meet Nicaragua's oil needs and even export if successful, according to remarks posted on the government's website. The Central American nation, one of the poorest in the Americas, is an oil importer and has just minor production along its Pacific coast.
Cunningham said this first phase will give the based company needed information on its future goals off the Caribbean coast. Noble plans to invest between $90-335 million between 2013 and 2019.--AFP