One of the areas to be auctioned is located between the municipalities of San Andrés, San Benito and La Libertad, Petén. The second is shared between San Francisco, San Benito and La Libertad. The third from Coban, Alta Verapaz, and Ixcán, Quiché and the last in Santa Elena, San Francisco and Dolores, Petén.
"With these new areas there is a plan to increase oil production from 80 thousand to 150 thousand barrels per day," said Alvaro Colom during the framework of the IV Central American Energy Fair, reports Prensalibre.com.
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. "
The President invited Exxon Mobil Corporation to participate in oil exploration in Guatemala.
While attending the II Competitiveness Summit of the Americas, in Atlanta, Georgia, USA, President Colom met with representatives of the transnational companies in that country.
Even though there were not any final agreements resulting from the talks, the President presented a series of invitations to the companies.
President Álvaro Colom informed that Guatemala will publish bidding rules for new oil and natural-gas blocks before the end of next week.
This process is part of a plan to increase the country's oil production to 60.000 barrels a day in 2011, up from the current 16.000. The winner of the auction will be announced 60 days after the publication of the rules.