6 petroleum areas to be put to tender in Guatemala

The first tender will be for an area in the Pacific Ocean and will be announced at the end of November or early December.

Wednesday, October 29, 2008

Despite the Government having announced its interest in increasing oil production in order to ease the crisis caused by high oil prices, the plans to tender six new oil exploration areas, which had previously been prepared during the administration of Oscar Berger, were delayed for unknown reasons.

When questioned about the long delay in the tender, Alfredo Pokus, Vice-Minister of Energy, said that he was not aware of the causes for the delays, and said that the delay was due to the fact that they could not "directly locate the areas" and that "advertising was lacking" to promote the project abroad with foreign investors.

More on this topic

Guatemala Steps up Interest in Oil Exploration

April 2011

Forty-five companies have shown interest in bidding for exploration of 4 oil areas in Petén.

In times of record oil price rises, there is mounting interest from different companies specializing in oil exploration in Guatemala.

An article in Siglo XXI declares: The two biggest areas to explore are PTN-1-2008 with an estimated reserve of 257 million barrels of oil, and PTN-6-2008 with 146.45 million."These projects are supported by the Guatemalan Chamber of Commerce (AmCham) because they promote the development of the country, " said Executive Director, Carolina Castellanos. "

Guatemala Puts Oil Fields Out To Tender

December 2009

Three areas with oil production potential will be put out to tender on January 2010, out of a total twelve.

Of the three areas, two are located inland, and one is offshore in Guatemalan waters, explained Carlos Meany, Energy and Mines Minister.

"... they want to start with those areas located to the southwest of Petén, because of the oil potential of the mantle near Belize.

Guatemala Will Put Oil Fields Out To Tender by 2011

September 2010

The Mining and Energy Ministry (MEM) will put out to tender six oil fields located in Peten, Quiche and Alta Verapaz in 2011.

The tender is scheduled for January 2011, said Alfredo Pokus, Deputy Minister of Mines and Hydrocarbons. Documentation will be made available over the course of the week to the General Secretary office, to be reviewed and approved.

Only Two Bids for Oil Tender in Guatemala

June 2011

Only two companies, Perenco and City Petén, have submitted bids for the Yalcanix block, located in Petén.

For the other three areas tendered, San Francisco, La Libertad and Xacbal, no bids were received at all. The Ministry of Energy and Mines will decide whether to convene a new tender.

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