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Friday, 09 January, 2009, 00:40 GMT | more >>

PetroLatina cuts Guatemala staff



By Upstream staff 

PetroLatina Energy has reduced its staff in Guatemala down to its minimum after the Municipality of Coban refused to grant access to the Tortugas area of the A7- 2005 licence.

The company said that all operations on the licence have been suspended with the exception of those related to the Atzam-2 well, where it is planning remedial work on the well bore to allow the well to be fully tested.

Meanwhile, PetroLatina said that it will shoot additional seismic over its Midas and La Paloma licences in Colombia after upgrading unrisked recoverable reserves at La Paloma up to 90 million barrels of oil from the initial 20 million barrels.

This follows an update using the seismic and well data base obtained in conjunction with the licences. Work on the Midas licence is ongoing and should be completed in the first quarter of 2007.


Wednesday, 10 January, 2007, 07:54 GMT  | last updated: Wednesday, 10 January, 2007, 12:59 GMT

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