Mining & Geology Oil exploitation oil oil exploration Energy Oil exploration Ministerio de Ambiente, Energía y Telecomunicaciones (Costa Rica) Natural gas Mallon Oil Company Constitutional Chamber of the Supreme Court of Costa Rica Environmental Technical Secretariat Laura Chinchilla Norwood Resources mining exploration tender

Guatemala Readies Bidding Rules for Oil and Gas Blocks

President Álvaro Colom informed that Guatemala will publish bidding rules for new oil and natural-gas blocks before the end of next week.

Thursday, January 14, 2010

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.

According to Bloomberg.com, "last year, Guatemala delayed the auction of 16 blocks, which the government estimated would draw as much as $235 million of exploration investments, mostly to search for natural gas off the country’s Pacific coast".

Source: Bloomberg.com

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Costa Rica Will Not Sign Contract With Mallon Oil

December 2011

The president, Laura Chinchilla, has confirmed the decision not to sign an oil exploration contract with the Mallon Oil Company.

The U.S. company Mallon Oil was awarded a tender eleven years ago, for a contract for oil and natural gas exploitation in the south.

Last August the government declared a three-year moratorium on oil exploration in the country.

Russia Will Explore Oil in Nicaragua

July 2009

Russia and Nicaragua formalized an energy cooperation agreement, to explore oil in the country.

Igor Sechin, Russia's Deputy Prime Minister, informed that exploration, both in land and Nicaraguan waters, will be carried out by the National Petroleum Consortium of Russia, comprised by the largest Russian oil companies.

Oil exploration on Nicaraguan Caribbean coast

December 2008

The government will sign two concession contracts with Infinity Energy for oil and natural gas exploration and exploitation.

According to the article from "Proceso Digital," the Nicaraguan vice-minister of Energy and Mining, Lorena Lanzas, pointed out that "the granting of these concessions have already been approved by the Regional Governments of the Southern and Northern Caribbean coast of Nicaragua, in accordance with the law."

Alvaro Colom approaches American transnational companies

August 2008

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.