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Guatemala’s oil hopes dwindle as bidders stay away

Wednesday, June 1, 2011


Perenco and City Petén were the only bidders for the Yalcanix oil exploration block that has estimated reserves of 140 million barrels.

No offers were made for the other three areas on offer at the auction, despite the government’s claims that about a dozen companies were interested.

Perenco already operates the Xan field, Guatemala’s most productive. Ciy Petén and US Oil Guatemala are exploring elsewhere in the country.

Original source (in Spanish): El Periódico