"Petrolera del Istmo" Operates Rubelsalto Oil Area

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

Wednesday, August 12, 2009

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.

"On April 25, EPI was the only company bidding for the operation of this oil area. On that occasion, the Ministry of Energy and Mines invited bids because the contract with the company Perenco was coming to an end", reports Prensalibre.com.

More on this topic

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: Petrolera del Istmo Wins Bid

June 2009

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.

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.

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.

Guatemala Puts Rubelsalto´s Petroleum Contract Out to Bid

February 2009

Upon the success of the operating contract by the business Perenco, the Department of Energy and Mines reported that the public noticing process has been opened.

Byron Dardón, in his article published in Prensalibre.com, writes: "Carlos Meany, Minister of Energy and Mines, commented that, along with the petroleum field, also opened was the process for the exploration process for deposits of Western Chinajá, the Caribbean and Tierra Blanca, that form part of the area A6-2005, from where crude oil has been extracted for 25 years."

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