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Country Report

Belize upstream summary

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02 January 2018

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 ...

Table of contents

  • Executive summary
  • Key facts
  • Location maps
  • Key companies
    • Introduction
    • Corozal basin
      • Reservoir
      • Source rocks
      • Traps
    • Belize basin
      • Reservoir
      • Source rocks
    • Licensing
    • Drilling
      • Drilling activity
  • Reserves and resources
    • Oil/liquids
    • Gas
    • Introduction
    • 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
    • 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

Tables and charts

This report includes 17 images and tables including:

  • Key facts: Table 1
  • Country Map
  • Net Acreage 2023
  • Reserves and contingent resources at 01/01/2023
  • Liquids and Gas Production 2017
  • Oil, Other Liquids and Gas Production and Reserves
  • Map of Basins
  • Map
  • Production: Table 1
  • Production: Table 2
  • Liquid Production
  • Exploration Drilling
  • Fiscal terms: Table 1
  • Fiscal terms: Table 2
  • Fiscal terms: Table 3
  • Fiscal terms: Table 4
  • GEM models

What's included

This report contains:

  • Document

    Country Overview

    PDF 15.78 MB

  • Document

    Country Overview

    XLS 202.00 KB