Belize Petroleum Potential and New Exploration Opportunities
Belize – Ministry of Natural Resources, Petroleum & Mining / Geology & Petroleum Department
Tuesday, 23 February 2021, 2:30 p.m.–3:30 p.m. | London, England
Belize is an English-speaking Caribbean country located on mainland Central America adjacent to Mexico and Guatemala which are major produces and is positioned on the southeastern edge of the Peten Basin which has proven large oilfields. Belize is a stable democracy and the economy is built on tourism, agriculture and productive sectors including petroleum production and has a square area of 39,024 square kilometers including the EEZ.
The Belize petroleum industry is still emerging and remains a relatively frontier region with onshore and offshore potential. Although first production began in 2005 with the discovery of the onshore Spanish Lookout Oilfield which had peak production of 40-degree API gravity oil of 5,000 bopd in 2009, Belize is still underexplored. The producing northern onshore Corozal Basin still holds potential for additional discoveries while recent exploration wells drilled in the southern Belize Basin encountered promising oil shows. The offshore basins of Belize show good potential for large commercial accumulations of oil and gas, however there is currently a moratorium on offshore exploration which may be reconsidered soon. There are current exploration opportunities for vacant blocks and for farmins with existing license holders.
Craig Moore Deputy Director, Geology & Petroleum Department, Ministry of Natural Resources, Petroleum & Mining
Raymond Thompson Petroleum Engineer, Geology & Petroleum Department, Ministry of Natural Resources, Petroleum & Mining
Andre Cho Director, Geology and Petroleum Department, Ministry of Natural Resources, Petroleum and Mining
London AAPG Region Office
City of London