Looking for Oil and Gas in Panama

The Secretariat of Energy has contracted an exploratory study to check Panamanian soil for natural oil and gas.

The $476,000-study will have eight months to figure out where Panama’s resources lie and if they can be successfully commercially developed.  It is believed that the most likely candidates for exploitation are the Atlantic Coast and the Darien Gap, although Azuero and the border area with Costa Rica could also be players.

The government is not revealing the name of the company in charge of the study but said that it was Miami-based with the participation of Venezuelan petroleum professionals, La Prensa reports.