Roundup: Costa Rica tankage, Paraguay award, Virgin Islands fuel switch

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Monday, November 25, 2013

Andes Energia (AIM: AEN) announced the award by Paraguay's government of a new exploration permit on the Capitán Mesa block in southeast department Itapua. The exploration block covers 825,000 acres (333,866ha) and was awarded to a 50/50 consortium comprised of Andes subsidiary Kilwer and Integra Natural Resources.

Andes did not immediately respond to a request for a development timetable.

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Costa Rica state refiner Recope reported the start of installation of the second sphere as part of a five sphere LPG storage project at the Moín refinery that Felguera IHI is carrying out. The first sphere began operations in September and the second will take six months to complete. Each sphere's capacity is 4,000m3 (25,000b).

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And as part of a propane conversion project, the US Virgin Islands Water and Power Authority (WAPA) announced that Vitol to date has committed approximately 54% of the US$91mn budget.

WAPA also reported completion of the FEED phase while procurement of project components and services is underway with an emphasis on long lead time items.

In addition, contracts with subcontractors are being negotiated; a formal request has been made to the Department of Planning and Natural Resources for simultaneous review of coastal zone management, major land and water permit applications; and fire risk assessment and hazardous area classifications have been conducted.