2.9 billion barrels were produced in July 2009, 2.9% less than the same period of 2008, and 45% less than 2003, when output reached 5.3 billion barrels, according to data from the Ministry of Energy and Mines (MEM).
"Mario Godínez, MEM hydrocarbons sub-director, explained that the reduction is due to natural and technical factors, as well as several contracts expiring", reported SigloXXI.com.
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.
In 2009, the country produced 4.9 million barrels, a 4.3% reduction when compared to 2008.
Between 2002 and 2003, oil production surpassed 9 million barrels, with a daily average of 24.000 barrels. In 2009, the daily average was just 12.500 barrels.
An article in Elperiodico.com.gt published statements by the Energy Ministry, who “attributes the drop to the natural decay of the oil fields, but assured there are investments planned to increase production at those fields”.
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