Guatemala: Petrolera del Istmo Wins Bid

Exploration rights for the petroleum fields of Rubelsanto, Chinajá, Caribe and Tierra Blanca was granted to Petrolera del Istmo, S.A. with a 25-year period.

Thursday, June 11, 2009

The subsidiary of the American company MQuest International Inc., Petrolera del Istmo, S.A., submitted the only proposal for the bid for the the exploration of the oil fields. The awarding of the bid was approved by the Department of Energy and Mines. The review by the Secretary General of the Presidency and the subsequent ratification by President Alvaro Colom is pending.

According to Elperiodico.com.gt, "The field of Rubelsanto generates, at present, 700 daily barrels of petroleum, but in its better years it produced more than 3,000 barrels of crude oil daily."



More on this topic

The Interested Parties in Guatemalan Oil

November 2012

Among the 40 companies that attended an information workshop on the topic were Perenco Guatemala Limited, Trayectoria Oil & Gas, Empresa Petrolera del Istmo, Rubiales Energy and Hupecol Operating Co.

No date has been set for the submission of bids in the tender for the award of a concession for exploration and exploitation of hydrocarbons in the seven areas identified by the Ministry of Energy and Mines (MEM), and the publication of a Government Agreement about the tender is still pending, believed to be happening at the end of November.

"Petrolera del Istmo" Operates Rubelsalto Oil Area

August 2009

Starting yesterday, and for the next 15 years, the company will operate the oil fields located in Rubelsalto, Guatemala.

Carlos Parra, manager of "Empresa Petrolera del Istmo" (EPI), stated that his company foresees a 20% increase in output, reaching 900 daily barrels.

He added that next year they will invest almost $4 million in seismic, magnetic resonance and environmental studies.

Guatemala: Oil Field Exploitation Awarded

July 2009

"Rubelsanto", "Tierra Blanca", "Caribe" and "Chinajá Oeste" oil fields will be exploited for 25 years by Petrolera del Istmo.

The contract was celebrated between the Guatemalan Ministry of Energy and Mines and "Empresa Petrolera del Istmo S.A. (EPI)", a subsidiary of US-based MQuest International Inc. The concession can be extended after the initial 25 years.

Guatemala: Only One Tender for Oil Exploration

April 2009

Only one company, Empresa Petrolera del Istmo, presented a bid to operate the Rubelsanto, Chinajá, Caribbean and Tierra Blanca oil fields.

The tender to operate the field for a period of 25 years is the first of 12 blocks to be implemented in the coming months.

Elperiodico.com.gt reported statements from Carlos Parra, legal representative Empresa Petrolera del Istmo: "It is an attractive area for investors.

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