This image upsets me for the damage that oil companies have routinely done throughout the Americas.  We have huge gold and copper deposits here and we do not need a fragile old world forest ruined if this takes place. VOTE NO TO OIL EXPLORATION IN PANAMA!!

The companies GX Technology Corporation, Spectrum Geo Inc. and Geoex will be carrying out geophysical studies to determine the existence of possible oil and natural gas reserves.

Anpanama.com reported that the Cabinet approved the contracts authorizing the three aforementioned companies only to conduct research offshore, 15 kilometers from the coast and not on land.

“… The companies will operate under a multi-client modality allowing for information to be obtained without the State incurring any costs. With this, companies assume the risk of trying to recoup their investment through the sale of the information gathered, for a defined time period, explained the entity.”

Energy Secretary Víctor Urrutia explained that “…‘for the country, it is important to know what resources we have, even if it does not involve the exploitation of them’.”

“… The study area comprises 40 thousand kilometers of 2D seismic study, on the Pacific Coast and in the Panamanian Caribbean. The companies will be making an investment of $87 million in order to obtain the information. It was clarified that companies must comply with the environmental impact study.”

Source: anpanama.com