Panama Is Looking For Oil

Panama Is Looking For OilPanama will begin oil exploration in the province of Darien, close to the Colombia border, where surface oil deposits have been detected, with the aim of studying its commercial exploitation.

This was confirmed on Wednesday by president Martinelli, who is scheduled to travel to the province on April 22nd to tour the areas where the said fossil fuel deposits are.

Martinelli made a speech  last Tuesday night at the opening of the Annual Conference For Business Executives (CADE), in which he shared with former President Tabaré Vázquez a vision for economic and social development and the need for utilization of energy resources .

The Panamanian leader stressed that farmers in Darien used “oily substance ” to feed their  “Guariche” or handcrafted lamps for night illumination. “In Panama there is oil, and we have confirmed that  Colombian veins extend in to Panama,” he said.

In recent years, 36 oil wells were opened and shut in the areas under study. Cañazas Piercing in Panama province, and Garachiné, in Darien, revealed the presence of so-called “black gold.”

Other findings include a Capetian and Rancho Orchado in Darien, while in the area of El Plaris in the Gulf of Panama and Las Mareas in the Gulf of Mosquitos, in the Caribbean, natural gas was detected.

In 2008, Harken Panama Limited, a subsidiary of Global Energy Development Group, linked to the Bush family, U.S., began explorations in Darien, the province with the highest distribution of tropical forests.

Martinelli used his speech at the 2010 CADE symposium to defend all mining projects, with adherence to environmental principles, and announced the expansion of ports adjacent to the Panama Canal, the increasing the road network and construction of provincial airports to “change  this country. “

Along these alternaticve energy lines,Martinelli’s government plans  to  replace all heat production plants (coal and oil) by hydroelectric sources.

Good luck and God Speed Mr President. As Panamanians often say “veamos”.

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