Portobelo Bay offers a diverse underwater environment featuring a mix of reef, wall, and wreck structures, including artificial reefs. Access to this site is exclusively by boat. Divers can expect depths averaging 15 metres, with visibility typically ranging between 10 and 20 metres. Conditions are suitable for intermediate divers, though the site is subject to moderate currents and potential thermoclines. Water temperatures remain warm throughout the year, ranging from 28 to 30 degrees Celsius. Species recorded around this area include Indian Lionfish, Blue Tang, various wrasses, Striped Parrotfish, and Caribbean Spiny Lobster. Night diving is available at this location.

The Pa Plane Wreck is an artificial reef located 2000 metres offshore from Portobelo, Panama. This wreck site is suitable for intermediate divers, with depths ranging from 15 to 30 metres and an average depth of 15 metres. Access is by boat only. Divers should be aware of potential hazards including entanglement, overhead environments, and variable visibility ranging from 10 to 20 metres. Currents at the site are generally mild. A typical dive duration is approximately 40 minutes. The site provides a wreck exploration experience in a marine environment with water temperatures consistently between 27 and 30 degrees Celsius throughout the year.

Drake Island, located off Playa Huertas near Portobelo, is defined by a dramatic 50-foot vertical wall. This site is accessed by boat and is suited for advanced snorkellers due to the nature of the terrain. While the site is noted for its vertical topography, species recorded around this area include Indian Lionfish, wrasses, Queen Parrotfish, Blue Tang, Striped Parrotfish, Caribbean Spiny Lobster, Drum and Croaker, Smooth Trunkfish, Needlefish, Sally Lightfoot Crab, sergeants, French Grunt, snails, and Symmetrical Brain Coral. Water temperatures remain warm throughout the year, ranging between 28C and 30C.

Parchecito is a beginner-friendly reef located 500 metres off the coast of Portobelo, Panama. Divers access this site by boat to explore depths ranging from 12 to 20 metres, with an average depth of 16 metres. The site features mild currents and visibility reaching 30 metres. Water temperatures remain warm throughout the year, between 28 and 30 degrees Celsius. The terrain consists of reef and rock formations, which require caution due to sharp coral. Night diving is available at this location. Species recorded around this area include wrasses, blue tang, parrotfish, trunkfish, grunts, snappers, and Caribbean spiny lobster. Divers should remain vigilant for lionfish tucked into crevices.

Puerto Frances is a reef site located 100 metres from the shore near Portobelo. This site is accessible by boat and is suited for intermediate snorkellers. The reef area features depths ranging from 1 to 15 metres, with an average depth of 5 metres. Visibility typically varies between 10 and 25 metres. Conditions can be variable, with moderate currents and potential surf. The site is exposed to trade winds during the dry season from January to May, which can cause choppy water conditions. Snorkellers should be prepared for these environmental factors when planning their visit to this reef.

Maria Soto Beach in Portobelo offers a rocky reef environment accessible directly from the shore. This site is frequently used by local dive schools due to its straightforward entry and generally consistent conditions. Divers and snorkellers can expect mild currents and water temperatures ranging between 28°C and 30°C. The reef structure supports a variety of marine life, and species recorded around this area include Caribbean spiny lobster, striped parrotfish, queen parrotfish, blue tang, and massive starlet coral. With a typical dive duration of 120 minutes, the site provides a relaxed experience for intermediate divers and snorkellers. Parking and dive shop facilities are available nearby.

Coral Reef Labyrinth in Portobelo features a winding reef structure suitable for beginner divers. The site ranges in depth from 7 to 15 metres and offers consistent visibility of 30 metres. Divers experience warm water temperatures between 28 and 30 degrees Celsius and mild currents, creating comfortable conditions for those building underwater confidence. Access to the site requires a boat. The complex layout of the reef is best navigated with a guide. Species recorded around this area include wrasses, striped parrotfish, blue tang, smooth trunkfish, Caribbean spiny lobster, queen parrotfish, drum, croaker, Sally Lightfoot crab, slippery dick, needlefish, French grunt, schoolmaster snapper, and sergeants. Be aware of the presence of venomous Indian lionfish.

Isla Padre is a natural pool situated at the entrance of Venas Azules near Portobelo. This shallow reef site features sandy patches interspersed with small coral heads, providing a calm environment for snorkelling. Depths typically range from 1 to 3 metres, with an average depth of 1 metre. Access to the site is by boat only. Conditions are generally mild, though snorkelers should remain aware of boat traffic and sharp coral in the area. Guided tours are available for those visiting this location.