Ministers Question the Legality of the Perenco Expansion
The Guatemalan Environment, Culture and Sports, and Interior Ministers have suggested that the law was broken in extending the Perenco oil exploitation contract.
Wednesday, July 28, 2010
According to Luis Ferraté, Environment Minister, by expanding the scope of the project the extension violates laws regulating hydrocarbon exploitation, in which "only contract extensions are authorized, not modifications or expansions, as stated in the contract signed by the Minster for Energy and Mines (MEM) with Perenco".
A new Guatemalan Constitutional Court motion has been filed against the expanded Perenco contract on the grounds of unconstitutionality.
President Alvaro Colom endorsed a 15 year extension to Perenco’s crude oil extraction contract.
Perenco Guatemala Limited would invest $50 million if the government extends its 2-85 extraction contract in the north of Petén.
Upon the success of the operating contract by the business Perenco, the Department of Energy and Mines reported that the public noticing process has been opened.
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