Guatemalan President Could Advance E&P Tenders This Week

Guatemala's President Oscar Berger could authorize the launch of bidding for new hydrocarbons E&P in Peten department in coming days, the energy and mines ministry's hydrocarbons director Jorge Silva told BNamericas.

The contracts cover blocks A1, A4 and A9, said Silva, adding the bidding process would take 3-4 months to complete.

A1 takes up 102,000 hectares with reserves estimated at 374-765 million barrels and A9 covers 107,000 hectares with reserves estimated at 460 million-1.07 billion barrels. Information regarding A4 was not immediately available.

The E&P contracts would run 25 years.

Company US Oil Guatemala and UK oil firm Taghmen Energy's local subsidiary PetroLatina already hold E&P contracts in the country.

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