$88 million for Panama oil-gasstudy

 
823Views 8Comments Posted 29/11/2017

OVER $88 MILLION has been allocated by three companies to carry out geophysical studies to determine the possible existence of oil and natural gas in Panamanian soil, and the first in the field has completed its data collection process.

The company GX Technology has completed data collection on the content of the coast and sea of the Panamanian Caribbean and from now on, the National Energy Secretariat can now start to put out to tender the blocks for exploration of gas or oil fields.

Prensa.com reports that "...The company, based in Houston, Texas, collected images of the marine subsoil using acoustic waves to characterize the geometry of the rock layers and map the geological structure of the marine subsoil in the Panamanian Caribbean Sea."

 



Comments 8

user
RedNekTex

They're gonna need a refinery before it supplies anyone with anything.

4 years ago
user
Richard Charron

Wow I'm not sure what to call your attitude towards this. Is it pessimism of realism. I try to occasionally have a positive frame of mind but at times it is difficult. I would just hate to see a repeat of Venezuela. I have relatives there and what's going on is horrendous.

4 years ago
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Ramona Rhoades

Come on, Richard. There will never be a non-corrupt government in Panama. And whatever the findings, they will forge ahead with the off-shore drilling and the beach industry will suffer from the inevitable oil spills. Spills which also affect the fishing industry. And if they do find enough to be profitable, the Panamanian People will not benefit. The profit will go into the same pockets it has always gone to.

4 years ago
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Wisdom

Really! MORE filth and promises In Australia there are huge wave machines in the ocean creating endless amounts of clean energy this is an amazing water purification & energy technique, having lived along the coast in California and having looked at this technology that I see in the photo ......it is Horse and buggy Technology in a Lamborghini showroom. Gullibility is for the weak minded.

4 years ago
user
Richard Charron

It appears that they have enough information to move forward. " the National Energy Secretariat can now start to put out to tender the blocks for exploration of gas or oil fields." Just exactly what was that "information"? I just thought a mention of the findings would have made the article more complete. It's not only this article, they have a tendency of leaving us wanting for complete information. If they do find oil or gas to a great extent, I hope by the time revenue starts to flow that there is a non-corrupt government in place so we don't have a repeat of Venezuela. I realize that's asking for a lot.

4 years ago
user
Candid Curmudgeon

They just finished collecting the raw data. It now had to be processed using computers before geophysicists can begin analyzing the results. This will take several more months.

4 years ago
user
Richard Charron

"The company, based in Houston, Texas, collected images of the marine subsoil using acoustic waves to characterize the geometry of the rock layers and map the geological structure of the marine subsoil in the Panamanian Caribbean Sea.” And the results were? Did they determine that there was the possibility that oil or gas could be found? Just what did they determine? Another half story.

4 years ago
user
Doug

Thats great .lets hope they find enough to supply panama at least

4 years ago
The comments are the responsibility of each author who freely expresses his opinion and not that of Newsroom Panama.
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