Above: Parliament in Belmopan
By the Caribbean Journal staff
Maranco Energy Belize Limited, which is currently searching for oil in the Orange Walk District in the country’s northeastern region, has discovered an “encouraging oil show,” according to the government.
The find was made at the South Canal Bank #1 exploration well in Maranco’s concession area.
“Further and necessary testing is ongoing to determine the commercial potential of the oil show,” the government said in a release.
Officials from Belize’s Geology and Petroleum Department are on site and “closely monitoring the situation,” the government said.
The Ministry of Energy , Science & Technology and Public Utilities will provide a public update “within a fortnight or as soon as new and additional information is forthcoming,” it said.