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Ivanhoe and Cobán invest $250 million in Guatemala

Friday, May 11, 2012

Canada's Ivanhoe Energy and US-based Cobán Oil and Gas aigned a letter of intent to invest $250 million for the construction of an crude treatment plant in Guatemala.

"This investment will raise the value of Guatemala's heavy crude, making it easier to manage and sell," said Cobán president Evanan Romero, Construction is expected to last for two years. The location is in the Petén department on the border with Mexico.

Source (in Spanish): AFP