Perenco to Increase Oil Production in Guatemala

The French oil company awaits authorization from authorities to begin drilling four new wells.

Tuesday, February 8, 2011

The new wells at the Xan field, Laguna del Tigre, will produce 1.500 to 2.000 barrels a day, said Benoit de la Fouchardiere, manager of Perenco Guatemala.

"The roundtable meeting which included representatives from the Ministry of Environment and Natural Resources (MARN), the National Council of Protected Areas (CONAP), the Ministry of Energy and Mines (MEM) and Perenco, concluded yesterday," stated the article in Elperiodico.com.gt.

More on this topic

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.

Perenco to Invest $35 million in Guatemala

May 2011

The French oil company is awaiting approval of environmental permits to begin drilling two new wells.

Company officials argue that the delay is costing the Guatemalan state about $15 million annually in royalties, among other things.

According to an article in Elperiodico.com.gt: "Luis Ferraté, Minister of Environment, said Perenco has not yet submitted the environmental impact studies for drilling new wells."

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. "

Guatemala Will Put Oil Fields Out To Tender by 2011

September 2010

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

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.

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