Cairn Energy PLC announced on 17 May 2019 that it has signed a farm in agreement with the operator Equinor for 35.1% of Blocks 1, 2, 3 and 4 located in the Sandino Basin. Currently Equinor is reviewing the estimated 3,000 sq km 3D seismic and 1,900 km 2D seismic shot over the blocks and plans an exploration well during 2020 â and official schedule has not been released. The interest holders in the blocks in a frontier area are Equinor (85%) partnered with the Empresa Nicaraguense del Petroleo (Petronic) (15%). Â       On      28 May 2015 Statoil was awarded four blocks totaling some 16,000 sq km in      the Nicaraguan Pacific. Work commitments during the initial 2.5-year first      exploration phase include re-processing and acquiring 2D seismic data, and      geology and geophysics (G&G) studies. The award represents Statoilâs      entrance to Nicaragua, in-line with the companyâs exploration strategy.      Nick Maden, senior VP for Statoilâs exploration activities in the Western      Hemisphere stated, âThis is a long-term opportunity with high subsurface      uncertainly, but with impact potential.â      Equinorâs seismic program over Blocks 1, 2, 3 and 4 was completed in September 2018 and it is estimated that is under review. Local news reported in late June 2018 that the seismic vessel Polarcus Asima arrived in Nicaragua to start the 3D seismic program which was expected to be completed on 10 September 2018. Polarcus signed a Letter of Interest (LOI) in February 2018.     In November 2017, it was reported that Equinor was planning a 3D seismic program during 2018 and one exploration well in 2019 over the offshore blocks. According to Statoiâs Exploration Manager Knut Graue, the operator ideintifed some potential in the basin, as well as prospects with the 4,900 km 2D semsic shot duing 2015. It is expected that the 3D program, will confirm locations for the propsects, which have been named after fruits.
Cairn Energy PLC announced on 17 May 2019 that it has signed a farm in agreement with the operator Equinor for 35.1% of Blocks 1, 2, 3 and 4 located in the Sandino Basin. Currently Equinor is reviewing the estimated 3,000 sq km 3D seismic and 1,900 km 2D seismic shot over the blocks and plans an exploration well during 2020 â and official schedule has not been released. 