Belize upstream summary Report

Country Report 08 August 2024

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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 ...

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
  - 2 more item(s)...