Guatemala Will Put Oil Fields Out To Tender by 2011

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

Monday, September 20, 2010

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.


"According to official estimates, the Petén area has potential for extracting 3 billion oil barrels. 7 of the 12 new oil fields are located in this department and these will be the first ones to be tendered", wrote Lorraine Alvarez for Elperiodico.com.gt.

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. "

City Petén to Explore Oil in Yalcanix

September 2011

The regulator has awarded the company City Petén a concession for oil exploration in the Guatemalan location.

City Petén has a $30 million investment plan for the first three years, compared with $11 million held by the other participating company Perenco.

"Although the Ministry of Energy and Mines (MEM) has not yet made the Certifying Board’s decision’s public following the evaluation of bids submitted on May 30, Minister Alfredo Pokus reported through his press chief, Rene Rodriguez, that they are in the approval stage with the Cabinet of the Government", reported Elperiodico.com.gt

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.

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.

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