Guatemala: Oil Exploration Areas Go Out to Tender

The Ministry of Energy and Mines (MEM) has announced six oil fields for exploitation for which the tender processes will begin in 2011.

Friday, September 24, 2010

The areas to be tendered are in the regions of Petén, Huehuetenango, Quiché and Alta Verapaz.

"The first MEM contract will include three areas located in the central zone of Petén, the northernmost region of Guatemala. PTN 1 comprises the Yalcanix and Paso Caballo wells, the latter of which is believed to contain gas. PTN 3 equates to the San Francisco well while PTN 4 contains four sections to be explored," reports Elperiodico.com.gt.

More on this topic

Details of Oil Tenders in Guatemala

September 2012

The Government of Guatemala has approved the basis of a call for tenders for the exploration and exploitation of hydrocarbons in the seven listed areas.

An excerpt from Government Agreement No. 172-2012:

MINISTRY OF ENERGY AND MINES

Approves the selection of seven areas for exploitation and exploration of oil, applying the Model Contract for Exploration and Exploitation of Hydrocarbons, with five areas in the form of ‘indirect exploration phase’, two areas of ‘Indirect and Direct Exploration Phase’ both to be described.

Guatemalan Crude Oil Production Keeps Going Down

February 2011

Crude oil production dipped 11.5% in 2010 when compared to 2009.

Data from the Ministry of Energy and Mines (MEM) highlights a downward trend in place since 2006: 5.8 million barrels in 2006, 5.5 million in 2007, 5.1 million in 2008, 4.9 million in 2009 and 4.3 million in 2010.

15 Companies After Guatemalan Oil Fields

December 2010

Executives from 15 international companies participated in the briefing of new bidding areas.

Tradex, Perenco, Tenseco Energy Corporation y Odebrecht are among the companies showing interest.

In case of Perenco, his vice president, Larry Bottomley, stressed the importance of expanding its operations in Guatemala, "so we are open to participate in the bidding," reported Prensalibre.com.

Guatemala to Increase Oil Production

December 2010

The four new areas part of a bidding process would increase production by 40 thousand barrels per day.

The Minister of Energy and Mines spoke of aspects of the bid: regarding the exploration period, it shall be for 6 years with the possibility of an extension of one year and an operating period of 25 years, with a 15 year extension.

 close (x)

Receive more news about Energy

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


ATENAS: 13 HA, 1.5 KM from Highway 27, US$ 11/m2

Prime Lake Front Real Estate near San Jose, CR Now Available for Development, an extraordinary commercial real estate opportunity.
A lush 32 acre/13 hectare plot located just West of the...

Stock Indexes

(Jul 21)
Dow Jones
-0.15%
S&P 500
-0.04%
Nasdaq
-0.04%

Commodities

(Jul 21)
Brent Crude Oil
48.31
Coffee "C"
140.1
Gold
1,255
Silver
16.470