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Mar 9, 2011

Maranco Ltd wins a production sharing agreement in Orange Walk

Still on the question of oil exploration, we reported on Tuesday night that the environmental community is speaking out against new oil concessions in the north, which includes sections of the Rio Bravo Conservation and Management Area. Applications from five companies were discussed in Cabinet today for a production sharing agreement in the northwestern Orange Walk District. The contract would allow for petroleum exploration and production in the allotted area and the interested companies are Maranco Ltd, Belize Natural Energy Ltd, Cara Energy Belize Ltd, New Hope Natural Resources Ltd and Providence Energy Belize Ltd. A release this afternoon announces that G.O.B. proposes to award the P.S.A. to Maranco Ltd. And since the government has taken heat from the public over the way previous licenses have been granted behind closed doors, it was also decided that the public has two weeks to present objections, but it is not clear to whom.  Viewers may recall a recent lawsuit against B.N.E.’s parent company International Natural Energy, in which director, Tony Quinn, was found in breach of his fiduciary responsibilities. That suit was filed by Maranco LLC, the offshore company in St. Kitts & Nevis, which owns Maranco Limited, the local branch. Quinn was ordered to purchase Maranco’s shares in I.N.E. and the value will be determined in an independent evaluation.

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4 Responses for “Maranco Ltd wins a production sharing agreement in Orange Walk”

  1. Curious says:

    Come on channel 5, dig a little deeper, who owns Maranco.

  2. belibucket says:

    Paul Marriot. Lives in Riverwalk subdivision, Mile 60, Western Hwy, Cayo. Everyone knows Paul. Nice guy. Believe he’s a member of the San Ignacio Chamber of Commerce! He’s not hard to find if you OPEN YOUR EYES. I beleive that’s the name of a TV show if I’m not mistaken…

  3. Me says:

    I hope maranco actually looks for oil and didn’t just bid for the license to piss bne off, who they’re suing!!!

  4. me 2 says:

    Man Maranco Ltd is the perfect company for drilling, BNE is wated they want everything, give some others the chance man.

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