Union Oil and Gas agrees Nicaragua deal

Union Oil and Gas Group is to sign an agreement with Nicaragua’s state oil company Petronic for future operations in four offshore oil and gas blocks in the Sandino Basin.

The agreement, which is currently being finalised via governmental process, will grant UOGG priority rights to the exploitation of hydrocarbons in these blocks and marks the company’s first expansion into Central America after recent rapid growth in Peru, Paraguay, Uruguay and Bolivia.

Source: Energy Voice