Guatemalan Oil Opportunities Presented

Representatives from 45 companies attended a presentation about the oil areas that Guatemala will put out to tender.

Wednesday, August 22, 2012

Representatives from the companies Hupecol, Superior Energy Services, E & P Sucursal Colombia, Trayectoria del Gas, Petro Dorado, Ecopetrol, Pacific Rubiales, Geopetrocol and delegates from Perenco Guatemala and Perenco Colombia, participated in the presentation made by the Ministry of Energy and mines (MEM) held in the Colombian capital.

The director of MEM Hydrocarbons said that meetings were held with those interested in gaining more information about the process.

"Ricardo Sanchez, an executive from Geopetrol, said that the concerns of potential investors were mainly focus around learning more about the business climate in Guatemala, public safety and social status, indigenous communities and possible social unrest", reported

In the process they are offering two types of contracts, direct and indirect. For direct contracts the company that offers more royalties will get a higher rating.

More on this topic

Guatemala: New Tender for Oil Zone

February 2013

The "La Libertad" area will be tendered again in June, as it was the only of seven proposed areas for exploration that did not receive any bids in the last tender.

From a total of seven oil fields, La Libertad was the only area that did not receive any offers, therefore the Guatemalan authorities have created a new tender to be launched in June of this year.

Guatemala Launches Oil Tender

August 2012

The Ministry of Energy and Mines (MEM) has announced a tender for seven oil fields located in the north.

The contracts for the seven areas will be awarded for a period of 25 years, renewable for 15 more, under two different modalities.

"Luis Ayala, director of Hydrocarbons at the MEM, explained that 5 areas in the indirect exploration phase will be awarded under the first mode, where investors will be required to perform 2D and 3D seismic studies , and from the third year they will have the option to drill a well", reported

Guatemala Prepares Oil Tender

July 2012

The Ministry of Energy and Mines is continuing its search for companies interested in participating in a tender for the seven oil fields located in Petén.

Investors from Canada, the USA and Uruguay have participated in briefings and for in the next few weeks so will businessmen from Colombia and Brazil.

Another Tender for Oil in Guatemala

March 2012

The Minister of Energy and Mines has announced that in April 2012 a tender will be put out for oil exploration and development in six different areas of the country.

Minister Erick Archila said he expected to receive bids and make the award in August and September of this year, giving a period of four months to promote competition within and outside Guatemala.

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