President Ricardo Martinelli has announced that concessions for prospecting and exploring oil and natural gas will be awarded before the end of year.
Laestrella.com.pa reports that "The President addressed the issue when speaking about the interest that his administration has in getting more companies interested in investing in the production of sugar and ethanol in Panama."
Nicaragua published a map offering ocean areas for hydrocarbon exploitation while Costa Rica claims ownership over some of these sea territories.
In a protest note sent by the government of Costa Rica to Nicaragua, Costa Rica states that "it does not acknowledge or recognize any right or effect or product of any concessions granted in the past or in the future by Nicaragua ...
In a few weeks there will be an announcement of the arrival of the first shipment from Petrocaribe, but there are still no buyers interested in the fuel.
According to the coordinator of the Energy Cabinet, María Antonieta Guillén, "next week the scope will be defined somewhat, after which perhaps in the last week of August and first week of September there could be a shipment of fuel which Honduras would receive ".
The Spanish oil company could initially invest $30 million to explore and exploit oil in the Nicaraguan Caribbean Sea.
The Spanish are interested in starting exploration studies this August by drilling a well 190 km from the port of Bluefields Bay in the South Atlantic Autonomous Region (RAAN by its initials in Spanish), located about 500 km southeast of the capital, said Emilio Rappaccioli, head of Energy and Mines.
The conditions in Petrocaribe will never be the same: the new government of Venezuela will change preferential credit terms for the purchase of oil.
This was explained by the Vice President of Guatemala Roxana Baldetti, who has already met with representatives of Petrocaribe. "Back then, the conditions were the sale of up to 20 thousand barrels per day, of which 40% of the value would be paid in 90 days and the remainder within 25 years, with a rate of 1%. Same as offered to Honduras, reported Laprensa.hn.
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.
Nine companies have submitted 15 bids to the Ministry of Energy and Mines, in the tender for exploration and exploitation of seven oil fields.
Prensalibre.com reports that "The Cotzal area (Petén) received five applications; Laguna Blanca (Petén) and El Cedro (Alta Verapaz), three; San Francisco, two, and Cancuén (Petén) and Xalbal (Quiché) one, respectively. The area of La Libertad (Petén) did not receive any bids".
The Ministry of Energy and Mines in Guatemala is receiving the fee of $25,000 which enables bidders to take part in the tender for the concession of oil operations in 7 different areas.
According to an article Elperiodico.com.gt, the Ministry of Energy and Mines (MEM) this week opened the tender for the award of contracts for oil operations in seven areas under direct and indirect exploration formats.
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. "
The Government of Guatemala has approved the basis of a call for tenders for the exploration and exploitation of hydrocarbons in the seven listed areas.
An excerpt from Government Agreement No. 172-2012:
MINISTRY OF ENERGY AND MINES
Approves the selection of seven areas for exploitation and exploration of oil, applying the Model Contract for Exploration and Exploitation of Hydrocarbons, with five areas in the form of ‘indirect exploration phase’, two areas of ‘Indirect and Direct Exploration Phase’ both to be described.
The government is negotiating negotiate contractual issues with City Petén, concessionaire of the exploration and exploitation contract for oil area Petén 1-2008.
In order to complete the award process seven legal aspects that have been identified by the Ministry of Energy and Mines (MEM) must be corrected, said the head of the ministry, Erick Archila.
Representatives from 45 companies attended a presentation about the oil areas that Guatemala will put out to tender.
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 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.
Minister Erick Archila described the briefings as very successful and expects that all the areas can be awarded in the next tender.
The change of government in Guatemala has delayed the ratification of a contract awarded to City Petén for oil drilling in an area with 140 million barrels.
On October 31st, 2011, at the end of the Colon administration, the Ministry of Energy and Mines signed a concession contract to exploit oil in the Yalcanix (PTN 1-2008) area with the Guatemalan company City Petén after a tender in which only two other companies, Perenco Guatemala and the aforementioned City Petén participated. The offer from Perenco was $11 million and City Petén’s was $30 million. Both companies have experience in oil exploration in the country.
President Mauricio Funes admitted the possibility that El Salvador will enter into an oil agreement with Venezuela and Caribbean nations in order to purchase fuel under more favourable payment terms.
At the same time as making a statement on these issues, Funes said that in principle, he is not think about joining the Alba, an international association of a political nature whose true head is the President Hugo Chavez.