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 ...
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.
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 Mexican businessman is studying possible investments in exploration and exploitation of oil and natural gas, and the construction of a rail line between Mexico and Guatemala.
From a press release from the Presidency of Guatemala:
President Otto Perez Molina met on Wednesday with the Mexican tycoon Carlos Slim, head of a leading corporation in the telecommunications sector, who evaluated potential investments and job creation in Guatemala.
The government of Guatemala has awarded contracts to six oil companies who will each implement an average investment of $30 million.
Elperiodico.com.gt reports: "Increasing high quality oil production, and the possibility of finding natural gas reserves are on the radar of the six companies who received contracts awarded by the Ministry of Energy and Mines (MEM) in order to attract investment of over $30 million per year for the area. "
Noble Energy will invest between $90 and $335 million in oil exploration drilling in the Nicaraguan Caribbean.
This will be carried out after determining in the exploration phase if there is up to a 25% chance of finding commercially viable oil. The company estimates that this new exploratory process may extend to three years, although after 90 days, starting from August, they will know the results of the first drills.
The $1.5 billion oil refinery project in Costa Rica has been severely questioned and has not yet had its economic feasibility demonstrated.
Costa Rican economists and politicians have questioned the project believing that the money would be better spent in finding alternative forms of energy.
On the other hand, there are still not any final costs for the project, or the price of the lease of the plant to the Costa Rican state run company RECOPE, leaving its economic viability still in doubt.
In June a new bidding process will begin to award 200 megawatts of electricity in Guatemala.
This was announced by the chief of Energy and Mines, Erick Archer during his presentation at the investment forum Investment Summit 2013.
Archila said that in 2014 another 200 megawatts will be offered, which would amount to more than a thousand megawatts tendered during this administration.
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 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.
Businessmen claim that "there are blatant requests from government officials for illegal payments or for having a share in the business."
"U.S. oil company Greenfields Petroleum Limited, which is involved in the bidding competition to expand the exploitation of hydrocarbons in the country, yesterday asked the Ministry of Energy and Mines (MEM) for a clear and transparent process," noted an article in Prensalibre.com .
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 Australian oil company Range Resources has announced that it will participate in the drilling of an oil well in Guatemala with potential reserves of 2.3 million barrels of crude oil.
The company said it intends to sink a measuring pump in order to establish the commercial potential of two zones that have already been drilled, Atzam-4, where they expect a flow between 300 and 400 barrels per day.
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.
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".