Guatemala: Petrolera del Istmo Wins BidThursday, June 11, 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. The awarding of the bid was approved by the Department of Energy and Mines. Oil Company Transfer Contract AuthorizedTuesday, January 17, 2012 The Ministry of Energy and Mines of Guatemala has authorized the General Fuel Company to transfer a contract to Ceiba Petroleum. The transfer is of 90% of the rights and obligations of the Contract for Production Sharing Number 4-93. The Interested Parties in Guatemalan OilWednesday, November 7, 2012 Among the 40 companies that attended an information workshop on the topic were Perenco Guatemala Limited, Trayectoria Oil & Gas, Empresa Petrolera del Istmo, Rubiales Energy and Hupecol Operating Co. No date has been set for the submission of bids in the tender for the award of a concession for exploration and exploitation of hydrocarbons in the seven areas identified by the Ministry of Energy and Mines (MEM), and the publication of a Government Agreement about the tender is still pending, believed to be happening at the end of November. Guatemala: Only One Tender for Oil ExplorationMonday, April 27, 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. Guatemala: Plan for National Hydrocarbons AgencyMonday, October 7, 2013 The Guatemalan State is proposing to boost oil extraction by creating an agency independent of the Ministry of Energy and Mines. Keeping in mind the model followed by Colombia, "the Ministry of Energy and Mines (MEM) wants to create a National Hydrocarbons Agency, to increase the exploitation of those resources." Guatemala: Oil Field Exploitation AwardedWednesday, July 29, 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 Plans to Increase Oil Production by 19%Monday, September 23, 2013 The Ministry of Energy and Mines plans to increase domestic oil production from 10500 to 12500 barrels a day. This is due to a strategy of self-sufficiency in electric power, according to Luis Ayala, director general of hydrocarbons, it is related to the drilling of two new wells and a change in the method of generating electricity in the Xan field, northwest of Petén. "Petrolera del Istmo" Operates Rubelsalto Oil AreaWednesday, August 12, 2009 Starting yesterday, and for the next 15 years, the company will operate the oil fields located in Rubelsalto, Guatemala. Carlos Parra, manager of "Empresa Petrolera del Istmo" (EPI), stated that his company foresees a 20% increase in output, reaching 900 daily barrels. Guatemala-Mexico Oil DealTuesday, September 3, 2013 A joint exploitation of oil in subsoil at the border, which would increase production in Guatemala by up to five times, is currently being analyzed. According to Erick Archila, Minister of Energy and Mines (MEM), at the moment they are working on a bilateral agreement to exploit oil fields at the border. "This is a project which emerged from the last bilateral meeting between the Presidents of Guatemala and Mexico, a route has been estimated which is a similar to that of the authorities neighboring U.S. border areas," he added. Guatemala: Oil Concessions Still have No ContractsWednesday, July 23, 2014 A year after six areas for oil exploration were awarded, five of them still dont have contracts signed between the contractors and the government. Prensalibre.com explains that "...The five areas that are pending are those awarded to Galax Garden Corporation, for the the San Francisco fields; the company Island Oil Exploration Services, SA, which will operate in Laguna Blanca; Trayectoria Oil & Gas Career, which will be situated in Cancuén as well as Greenfields Petroleum Guatemala, El Cedro Petén, Quiché and Alta Verapaz, and Loon-Petroleo Limited in Xacbal." Guatemalan government puts oil exploration area to tenderFriday, January 16, 2009 The Minister of Energy and Mining is awaiting the publication of the governmental agreement allowing it to put oil exploration area, A-6 2005, to emergency tender. Elperiodico.com.gt reports on its website that "Carlos Meany, Minister of Energy and Mining, said that they have already completed the steps for carrying out a tender, and that they only now have to publish the governmental agreement that was approved by President Alvaro Colom and his cabinet. Guatemalan Oil Production DropsWednesday, November 18, 2009 Oil production from January to October 2009 dropped 3.25% when compared to the same period of 2008. Mario Godínez, from the Ministry of Energy and Mines, explains this as a result of less oil drilling. Guatemala Extends Contract for Oil Company PerencoThursday, March 4, 2010 President Alvaro Colom endorsed a 15 year extension to Perenco’s crude oil extraction contract. The announcement was made by Carlos Meany, Energy and Mines minister, who explained that if the contract was not renovated, the State would lose $125 million a year. Nicaragua: Five Petroleum Concessions in Uncontested AreasWednesday, September 11, 2013 Four awards have been made so far in the Caribbean and in the Pacific, to Noble Energy, Infinity Energy and Industrias Oklahoma Nicaragua. According to the Minister of Energy and Mines (MEM), Emilio Rappaccioli, "the company Noble Energy, which between 2013-2015 will invest between $180 million and $670 million is at the moment making progress in drilling the first well, but in Nicaraguan waters" reported Elnuevodiario.com.ni . Guatemala prepares petroleum concessions for 2009Tuesday, December 23, 2008 Authorities are preparing the procedure to put the areas for oil exploration and exploitation to tender, and expect to hold the international bidding during the first quarter of 2009. According to the head of the Ministry of Energy and Mining (MEM), Carlos Meany, they have established 13 oil fields that can be explored, and eventually, to extract both natural gas and crude oil. |
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