Panama to Resume search for oil

PANAMA OIL explorations in the Carribean will resume by the end of the year says a government announcement

The National Energy Secretary Victor Urrutia, said that the purpose is to learn more about alleged existing deposits in the area to determine if indeed they exist and if there are sufficient amounts to justify extracting them.

CentralAmericaData reports that the new searches for oil come five years after oil explorations were made in the provinces of Darién, Bocas del Toro, and  Los Santos, during the government of former President Ricardo Martinelli, and also in the Panamanian Caribbean, where the existence of deposits was determined. However, at the time it was determined that Darien could have greater potential, but the venture did not prosper
“There have been a lot of examinations, but to date none have been successful,” said Urrutia, noting that ‘in the case of Darien and Bocas del Toro multiple scans have been made in recent years, but now there is no activity, because the results have not been successful”