Investing in the energy and oil sector in Guatemala
The energy and oil sector is one of the strongest attractors of Foreign Direct Investment in Guatemala. Studies by the Ministry of Energy and Mines demonstrate that the country has the potential to generate up to 5,000 MW of electricity and 750 million barrels.
As of 2011, the energy and oil sector in Guatemala attracted US$330 million in Foreign Direct Investment (FDI), representing 32.2% of the entire FDI in Guatemala that year. Renowned companies like Actis, Empresas Públicas de Medellín, Enel, AEI, Perenco, and Paciﬁc Rubiales are present in this sector.
Guatemala's petroleum production raised to 10,945.5 barrels per day in 2011. In the same year, Guatemala generated 8,927 GwH of electricity. Despite the enormous growth of this sector, it still has potential for further growth.
Why should you consider investing in this sector?
- It is a mature market that has a speciﬁc and delimited legal framework
- Potential reserves of oil amount to 700 million barrels
- There is optimal infrastructure for hydrocarbon storage
- Oil production (2011): 10,945 barrels per day, most of them categorized as "heavy crude oil" (with API gravities between 10 and 22.3) and "bitter" (with sulphur percentages higher than 1%).
- Probable reserves of up to 750 million barrels; gas reserves of 330k/p3/day.
- As of 2013, a total of 147 oil wells have been drilled. Also, Guatemala has a connection of 570 km (354.2 mi) of oil pipeline that links the main wells with the main port in the Atlantic Ocean, for further export.
For more information about this sector, please click here to access the sector report by InvestInGuatemala.
Also, please visit the InvestInGuatemala website to get in touch with an investment advisor.