Oil: Company About to Produce

Alyonca is investing $16 million in the rehabilitation of wells and is preparing to start oil production in Alta Verapaz, Guatemala.

Monday, November 11, 2019

The oil field from which the company will produce is in the Municipality of Fray Bartolome de las Casas, and the plans of the company are to attend the local industry and, in the future, make a new investment to refine the product that is extracted.

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Alyonca, is a consortium of investors from Argentina, Mexico and Venezuela, and will carry out the exploitation of engineering and deposit in the country, after the Ministry of Energy and Mines (MEM) awarded an emergency oil services contract in February 2019. The firm began working in the field consisting of six wells, but only three of them have been oil producers.

Sandro Jesús Ávila Saavedra, CEO of Alyonca, told Prensalibre.com that "... the expectation is to produce up to 1,200 barrels of oil per day, when the three wells are in operation. The recovery tasks consisted of cleaning and verifying the platforms and maintaining the infrastructure such as tanks and roads, but the company is not drilling."

The article adds that "... The first well to work and that is with advances to produce is well three, and for the next 70 days will be the production of wells two and one, respectively, after conducting seismic and geological analysis."

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