Tuesday, May 12th, 2015. BMG: An article entitled “This Tiny Nation Could Have Huge Oil And Gas Potential” written by David Forest on Yahoo! Finance is asserting that Belize can become a key story for oil
Forest writes that it will be a significant move for Belize if it allows oil and gas drillers to test its offshore and onshore environment, a plan that GOB advanced in late 2014.
According to a press release, Government is continuing “dialogue on the issue of oil petroleum exploration onshore and offshore”.
“There are still a lot of hurdles to meet including final government approval of the plan for offering petroleum licenses, and setting of dates and criteria for applications. The plan for drilling is also contentious. With environmental groups already protesting against potential damage to offshore ecosystems, and tourism locales”, notes Forest.
He ends the article by saying that if the plans for licensing gains momentum, Belize will be a spot to keep an eye on for new projects.
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