Guatemala accelerates efforts to attract foreign E&D capital

The Guatemalan government plans to encourage foreign contractor participation in the country's petroleum exploration and development (E&D) programs. The Guatemalan Ministry of Energy and Mines plans to further evaluate the Peten basin, the Amatique basin and the Pacific basin for new petroleum E&D projects. Guatemala's petroleum exploration contracts include production sharing contracts, seismic option contracts and exploitation contracts.
The Guatemalan government, headed by recently elected President Alvaro Arzu, has embarked on an ambitious program of petroleum exploration and development with the goal of producing 40,000 b/d by 2000. [...]