Alvaro Colom approaches American transnational companies

The President invited Exxon Mobil Corporation to participate in oil exploration in Guatemala.

Wednesday, August 20, 2008

While attending the II Competitiveness Summit of the Americas, in Atlanta, Georgia, USA, President Colom met with representatives of the transnational companies in that country.
Even though there were not any final agreements resulting from the talks, the President presented a series of invitations to the companies.

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. "

OTS Latin America Searches Oil and Gas in Panama

January 2011

The company was contracted by the Government in order to identify potential areas for exploitation.

The study to be conducted throughout the country will be funded by the Corporación Andina de Fomento (CAF) and the State.

Referring to the areas studied, the Minister of Economy and Finance mentioned Bocas del Toro, in the border with Costa Rica, south of Chiriqui, the Gulf of Panama and the Gulf of Uraba.

Russia Will Explore Oil in Nicaragua

July 2009

Russia and Nicaragua formalized an energy cooperation agreement, to explore oil in the country.

Igor Sechin, Russia's Deputy Prime Minister, informed that exploration, both in land and Nicaraguan waters, will be carried out by the National Petroleum Consortium of Russia, comprised by the largest Russian oil companies.

Nicaragua Approves Oil Exploration Concession

March 2009

Infinity Energy Resources Company, Inc. received government approval to explore 1.4 million acres of the Caribbean Sea coast.

The CEO of Infinity Energy Resources, Stanton E. Ross, manifested in the company’s press release: "The final approval of contracts for exploration [of natural gas and oil] and development by the Ministry of Energy and Mines and the Government of Nicaragua will allow the company to proceed with exploration activities."

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