Pacific Rubiales to Explore Oil in Guatemala

The Colombia - Canadian firm will operate the 7-98 oil contract, which has a potential for 4,000 million barrels.

Thursday, October 21, 2010

Pacific Rubiales has signed an agreement with Flamingo Energy Investment Ltd, Guatemala Chx Limited and Atlantic Petroleum Company SA, whereby they will get a 55% stake and operation of the oil extraction located in Petén.

For the realization of the agreement, Pacific Rubiales will, among other duties, processing geological data, studies and drill an exploratory well.

Ronald Pantin, CEO of the company, said the deal reflects their interest in expanding into countries with high potential for oil exploration.

More on this topic

$20 million in Oil Investments in Guatemala

January 2013

Pacific Rubiales has announced a $1.7 billion investment in exploration and developments in Guatemala, Colombia, Peru, Brazil and Papua New Guinea.

A spokesperson for the company noted that "While Colombia remains the main area for the production company and the focus of most of its activities and expenditures in 2013, we are taking our first important steps beyond its borders, with a major program that will have a high impact in Peru, Guatemala, Brazil and Papua New Guinea. "

Nicaragua Re-Exports Oil to El Salvador

May 2012

The company Albanisa S.A. exported crude Venezuelan oil and derivative products to El Salvador worth a total of $204 million in 2011, at an average price of $102 a barrel.

The data has been provided from an investigation by the newspaper La Prensa of Nicaragua citing data from the Analysis Unit of the Directorate General of Hydrocarbons at the Ministry of Economy in El Salvador.

Guatemala: Pacific Rubiales Oil Explorations Continue

May 2011

The energy company has presented its plan for the second quarter to the government.

Pacific Rubiale’s explorations in the country continue. The power producer is waiting for the government to approve the exploration plan for the second quarter, which was presented in February.

Guatemala's Oil Industry Enhanced by Pacific Rubiales

January 2011

The arrival of petroleum company Pacific Rubiales to Guatemala reaffirms the country's oil potential.

That is the opinion of Bob Szczuczko, general manager of Quetzal Energy, adding that the participation of a company as well known as Pacific, facilitated the decision to retain their properties in the country.

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