Country report
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17 Pages

Belize upstream summary

Belize upstream summary

Report summary

Belize is located in Central America on the Caribbean coast, next to Guatemala and Mexico. When the Spanish Lookout field was brought onstream in 2005, Belize became only the second Central American country, after Guatemala, to produce oil. The country does not have a refinery, so almost all crude is exported and all refined products are imported. The first exploration well was drilled in 1956, and over 50 wells have been drilled since, with little success until the discovery of the Spanish ...

What's included?

This report includes 2 file(s)

  • Country Overview PDF - 701.67 KB 17 Pages, 8 Tables, 9 Figures
  • Country Overview XLS - 327.50 KB


Volatility in oil markets has led players in the upstream oil and gas industry to focus on reducing capital spend and operating costs. At the same time, governments need to review fiscal terms to maintain attractiveness and investment.

This country report gives an overview of the key upstream issues for this country. If you’re interested in identifying and assessing upstream investment and expansion opportunities, this upstream summary is your definitive commercial guide.

Potential investors, governments and companies in the oil and gas sector can use it to gain a better understanding of the critical issues for development opportunities in this country.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research. Proprietary data means a superior level of analysis that is simply not available anywhere else. Wood Mackenzie is the recognised gold standard in commercial data and analysis.

  • Executive summary
  • Key facts
  • Location maps
  • Key companies
  • Geology
    • Introduction
    • Corozal basin
      • Reservoir
      • Source rocks
      • Traps
    • Belize basin
      • Reservoir
      • Source rocks
  • Exploration
    • Licensing
    • Drilling
      • Drilling activity
  • Reserves and resources
  • Production
    • Oil/liquids
    • Gas
  • Infrastructure
    • Introduction
  • Policy and regulation
    • Key legislation
    • Regulatory body
    • State oil company
    • State participation
    • International boundaries
      • Border dispute with Guatemala
    • Licensing
      • Exploration
      • Development
      • Offshore ban
      • Temporary cross-border moratorium with Mexico
  • Fiscal terms
    • Overview
    • Current fiscal terms
      • Royalties
      • Cost oil
      • Profit oil
      • Local content
      • Area fees
      • Administrative fees
      • Corporate income tax
      • Sample cash flow
      • Methodology
      • Marginal Government Take Calculation

In this report there are 17 tables or charts, including:

  • Executive summary
  • Key facts
    • Key facts: Table 1
  • Location maps
    • Country Map
  • Key companies
    • Net Acreage 2017
    • Remaining Commercial and Technical Reserves at 01/01/2017
    • Liquids and Gas Production 2017
  • Geology
    • Map of Basins
  • Exploration
    • Map
    • Exploration Drilling
  • Reserves and resources
    • Remaining and Produced Reserves Oil, Other Liquids and Gas
  • Production
    • Production: Table 1
    • Production: Table 2
    • Liquid Production
  • Infrastructure
  • Policy and regulation
  • Fiscal terms
    • Fiscal terms: Table 1
    • Fiscal terms: Table 2
    • Fiscal terms: Table 3
    • Fiscal terms: Table 4
    • GEM models
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