Thursday, February 6, 2025

Logo Central America Link

Guatemala opens seven oil blocks to boost output

Wednesday, September 5, 2012


Guatemala will open seven new sites to oil exploration bids as Central America’s biggest crude producer struggles to reverse declining output.

Guatemala, which shares its northern border with Mexico, will open up nearly 800,000 hectares for exploration and will discuss offers with interested companies over the next three months. The winning bidders will be announced early next year.

Oil production in Guatemala has fallen to 10,000 barrels per day from 30,000 barrels per day over the last 30 years, according to Energy and Mining Minister Erick Archila.



Source: Bloomberg