Chinese to Look into Hydrocarbons Potential in Honduras

China National Petroleum (CNPC) is due to visit Honduras next week to review the country's hydrocarbons potential, an official from the energy department of Honduras' natural resources and environment ministry told BNamericas.

The meeting will be the initial contact with CNPC to determine if it would be interested in carrying out exploration work, the official said.

Other groups such as Brazil's federal energy Petrobras (NYSE: PBR) and Colombia's state oil company Ecopetrol have visited Honduras, although nothing has been decided to date, according to the official.

The latest information on Honduras' hydrocarbons potential is contained in a report drafted by Japan's Japex Geoscience Institute available for US$14,000, the official said.

Japex indexed and cataloged existing energy department information such as geological, drill well and geophysical data.

The energy department is open to exploration and subsequent production requests from interested companies, the official said.

Honduras' government aims to develop the country's hydrocarbons resources to decrease dependence on imports, in particular due to current high prices.

CNPC LATAM INTEREST

In its search to tap into Latin America's hydrocarbons market, the Chinese company already has visited Argentina, Bolivia and Colombia and lately Venezuela.

Last month, Venezuela's President Hugo Chavez and his Chinese counterpart Hu Jintao signed an exploration joint venture agreement for the Orinoco oil belt's Junin 4 field.

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