Nicaragua has granted a concession for oil and gas exploration in maritime territory that belonged to Colombia until late last year, reported local media on Wednesday.
In November of last year, The International Court of Justice in Hague ruled on a long standing maritime dispute between Colombia and Nicaragua. Although Colombia was granted sovereignty over several islands, Nicaragua was the beneficiaries of a shifting of boundary lines between the two countries, effectively doubling their economic zone in the Caribbean Sea.
Ortega insisted however, that unlike Colombia, Nicaragua would respect the territory’s reserve areas.
The head of state indicated that the Colombian government had authorized oil exploration in protected areas.
“The government of Colombia had already authorized exploration activities in the reserve when they had the domain in that area,” argued the head of state.
Ortega did not reveal the name of the company which was awarded the concession, although Radio Santa Fe indicate that the Minister of Energy and Mines, Emilio Rappacciolo has been negotiating with Spanish company Repsol for an oil and exploration development in the Caribbean sea.
According to the Radio Station, Ortega has made an appeal to Colombian President Juan Manuel Santos, to resolve their differences through dialogue.