Petrolera del Istmo sole bidder for Rubelsanto E&P contract

Monday, April 27, 2009

Company Petrolera del Istmo submitted the only offer to Guatemala's energy and mines ministry for the Rubelsanto E&P contract, according to a ministry announcement.

The area is in Alta Verapaz department, roughly 200km north of Guatemala City.

A committee has 30 days to determine if the company's offer qualifies for the 15-year contract.

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Rubelsanto includes the Tierra Blanca, Caribe and Chinajá Oeste fields.

The bidding process falls under the government's energy policy to increase production to 80,000b/d from the current 14,000b/d.