Noble Energy’s Deepwater Well in Nicaragua Fails to Produce Oil

November 15, 2013

On November 13, U.S. oil company Noble Energy announced it has failed to discover “an accumulation of hydrocarbons” in the first deepwater well drilled off Nicaragua’s Caribbean coast, 168 km east of Bluefields, Nicaragua Dispatch reported on November 14. The 10,415-foot well will be capped and abandoned, the company said in a statement.

“Paraiso-1 was the first deepwater well drilled offshore Nicaragua and tested a new frontier exploration concept for this region,” said Mike Putnam, Nobel Energy’s vice president of exploration and geoscience. ”While we are disappointed that the well did not lead to a discovery, there were several positive observations during drilling. The information gathered from this well will be integrated into our regional geologic model to help us assess the remaining exploration potential over our nearly two million acre position offshore Nicaragua.”

The company reports that the offshore drilling rig will be released after the well is plugged. The company is expected to continue explorations at two additional sites off Nicaragua’s Caribbean coast in 2015.

Copyright: Nicaragua Dispatch, 2013