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Latin America Investment News on Viva Tropical

Yet Another Oil Tender for Guatemala

Article Summary:

Guatemala’s Minister of Energy and Mines has announced that in April 2012 a tender will be put out for oil exploration and development in six different areas of the country.

Photo Credit: Prensa Libre

Original Article Text From Prensa Libre via Google Translate :

The minister, Erick Archila said tender to be submitted to six areas in April. He added that it expects to receive bids and award between August and September this year.

As above, down about four months to promote the contest abroad.

MEM data record that domestic oil production dropped 56% in the last 10 years, nine million barrels in 2002 to 3.9 million in 2011. The daily production was 24 thousand 671 barrels in 2002, and fell to 10 000 899 in 2012.

Archila explained that to promote the contest are scheduled several tours worldwide. He added that it was advanced a delegation to Colombia.

According to Archer, the country was chosen because, along with Ecuador, has been “one of the most successful American models in the oil issue. Before I was a production of 500 thousand barrels, and now is one million, “he said.

He added that they are reviewing aspects of environment and ecology so as not to affect protected areas or nature reserves as the Maya Biosphere.

So far, he said, two areas have a percentage of area in the buffer zone, and the remaining four are in free zones.

Link to Original Article:

From Prensa Libre

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