The U.S. firm could explore in an area next to the exploration site of Britain's BG Group, which has already received a concession from the Government.
The U.S. company Chevron said it still intends to investigate the existence of oil and natural gas in Honduran maritime territory. The company aims to do so in an area adjacent to the place where BG Group has a concession to explore 35,000 square kilometers.
The British firm, which will carry out exploration of oil and gas in eastern Honduras, is beginning the technical studies.
Next week BG Group will begin oil exploration in the Atlantic coast of Honduras, in a sea area of 35 thousand square kilometers. The initial investment for this project in 2014 and 2015 will be about $20 million.
"Oil exploration will start after the government of Honduras delivers the corresponding environmental license," said Carlos Quintana, Vice President of BG Group.
The oil company Chevron will make an offer to Honduran authorities regarding hydrocarbon exploration in the Atlantic in that country.
"Let's see what kind of proposal they bring at this opportunity. They have informed us that they have an interest in returning to Honduras to look at proposals on the development of oil projects," said Roberto Cardona, head of Natural Resources and the Environment (Serna) .
Honduras's government denies that it is negotiating with the transnational Chevron over a concession for oil exploration in the Caribbean Sea.
This was confirmed by the Minister of the Presidency, María Antonieta Guillén, after leaders of the College of Mechanical Electrical and Chemical Engineers, of Honduras (CIMEQH) denounced that negotiations were being made for the direct award of 38 thousand kilometers in the Caribbean Sea for oil exploration.
The contract grants a concession to BG International Limited for exploration and development in more than 35,000 square kilometers in the Caribbean Sea.
On April 11 of this year 2013, the Cabinet approved the contract which has a term of 10 years, having the condition of returning to Honduras 50% of the area exploited from the corresponding studies on a term not exceeding four years.
For four years, Britain's BG Group will explore 35,000 square kilometers in the Honduran Caribbean, looking for hydrocarbons.
According to the manager of government relations for the company, Andrew Hepburn, they are waiting for the exploration contract signed by the oil company and the government to be published in the official newspaper La Gaceta.
Congress passed after a single debate the operating contract for British Gas Group to explore and exploit oil in the country.
"The Commission issued a favorable opinion after considering that in the negotiation for exploration and exploitation there will be no losses for Honduras ...", reported Laprensa.hn.
"... Based on the Hydrocarbon Law, an agreement was made that is very favorable for the country in case of finding oil, natural gas or other hydrocarbons in the Caribbean".
The Honduran Executive has approved an oil concession in the Caribbean to the British company BG Group.
From a press release issued by the Presidency of Honduras:
The Cabinet on Tuesday approved a contract for exploration and subsequent exploitation of hydrocarbons in the sea area of Mosquitia, on the Caribbean coast of Honduras, awarded to the British company BG Group.
The Honduran government is negotiating with BG Group over the award of a hydrocarbon exploration concession in 3.5 million hectares in La Mosquitia.
Laprensa.hn reports that the presidential adviser, Roberto Herrera Cáceres, "admitted to the press that there is a memorandum of understanding in which Honduras has reflected the requirements for investing in the country and these have been supplied to the British company for their analysis and so that they may reiterate their interest in continuing to negotiate with this government. "