1 Table of Contents 2

11 List of Tables 6

12 List of Figures 8

2 Guatemala Oil and Gas Overview 9

21 Guatemala Hydrocarbons Sector Snapshot 9

22 Guatemala Energy Balance, 2015 9

23 Guatemala Oil and Gas Infrastructure across Value Chain, 2015 11

24 Guatemala Primary Energy Demand Outlook, 2005- 2025 13

25 Guatemala Primary Energy Mix by Fuel (%), 2015 14

26 Regulatory, NOC and Licensing Authorities 15

3 Guatemala Oil and Gas Planning and Strategic Analysis 16

31 Future Trends and Drivers of Guatemala Oil and Gas Markets 16

311 Low global oil prices Poses Tough Challenges for New Upstream Investments 16

312 Perenco’s Xan field continues to dominate Domestic Oil production 16

313 High import dependency for petroleum products boost the revenues of Trading
companies 17

314 Government Initiates Use of Clean Diesel in Guatemala 17

32 Guatemala Oil and Gas SWOT Analysis 19

321 Key Strengths 19

322 Key Weaknesses 19

323 Key Opportunities 20

324 Key Threats and Challenges 20

33 Guatemala Oil and Gas Environment Benchmarking with Peer Markets 21

331 Overall Ranking of Markets, 2014 21

332 Demographic and Economic Index 21

333 Oil and Gas Supply Index 22

334 Oil and Gas Demand Index 22

335 Oil and Gas Infrastructure Index 23

4 Guatemala Oil and Gas Market Outlook and Forecasts 24

41 Guatemala Crude Oil Production Forecast (yearly), 2005- 2025 24

42 Guatemala Light Diesel Supply Forecast (yearly), 2005- 2025 26

43 Guatemala Vacuum Gas Oil Supply Forecast (yearly), 2005- 2025 28

44 Guatemala Crude Oil Demand Forecast (yearly), 2005- 2025 30

45 Guatemala Natural Gas Demand Forecast (yearly), 2005- 2025 32

46 Guatemala Gasoline Demand Forecast (yearly), 2005- 2025 32

47 Guatemala Diesel Demand Forecast (yearly), 2005- 2025 34

48 Guatemala Bunkering Fuel Oil Demand Forecast (yearly), 2005- 2025 36

49 Guatemala LPG Demand Forecast (yearly), 2005- 2025 38

5 Potential investment opportunities in Guatemala oil and gas sector, 2016-2020 40

51 New Developments And Future Projects In Midstream Sector 40

511 Investment Opportunities in Guatemala Pipeline Industry 40

52 New developments and future projects in downstream sector 41

521 Investment Opportunities in Guatemala Refining Industry 41

522 Investment Opportunities in Guatemala Storage Industry 41

6 Guatemala Economy and Political Analysis 42

61 Guatemala Geographic Location 42

62 Key Economic Indicators 43

63 Guatemala GDP Outlook to 2025 44

64 Guatemala Population Outlook to 2025 45

65 Guatemala Political Scenario, 2016 46

7 Guatemala Oil and Gas Industry Competitive Landscape, 2015 47

71 Guatemala pipeline sector – market shares by company, 2015 47

72 Guatemala refinery sector – market shares by company, 2015 48

73 Guatemala oil, petroleum products and chemicals storage sector – market shares by
company, 2015 49

8 Guatemala Oil and Gas Upstream Market Analysis 50

81 Guatemala Exploration and Production Sector- Proven Oil Reserves 50

82 Guatemala Field wise- Company details 51

83 Guatemala Contract wise Crude Oil Production, 2005-2015 52

84 Guatemala Exploration Block Details 55

841 Assigned Block Details, 2014 55

85 Guatemala Upstream Industry- Market Monitor 56

851 Greenfields Petroleum 25 Years Upstream Contract in Place - 2015 56

852 Five of Six Oil Concessions Yet to Finalize on Contracts- 2014 56

9 Guatemala Refinery Market Analysis 58

91 Guatemala refinery market snapshot, 2015 58

92 Guatemala operational refinery details- startup, capacities, location, operators and
owners 58

93 Guatemala planned refinery details- status, Capex, startup, capacities and companies 59

94 Guatemala Primary refining capacity outlook, 2005-2020 59

95 Crude Distillation Capacity Forecast by Refinery, 2005- 2020 59

96 Guatemala Petroleum Products production, 2015 60

97 Guatemala petroleum products consumption, 2015 60

98 Guatemala refining capacity outlook by company, 2005-2020 61

99 Guatemala refining Industry- Market Monitor 61

991 Guatemala Plans to Build a Refinery 61

992 Guatemala and Honduras reduce sulphur in diesel – 2015 62

993 Clean Diesel to be Effective from April 2015 63

10 Guatemala oil and gas storage market analysis 64

101 Guatemala Total Storage Capacity Forecast 2005-2020 64

102 Turkey Oil, Products, Chemicals Storage Terminal Details 65

103 Turkey Storage Capacity Forecast by Terminal, 2005-2020 66

1031 Guatemala Service stations by Company, 2015 67

104 Guatemala planned Storage Terminal Details- startup, capacity, tanks, operator and
owners 68

11 Guatemala Pipeline Market Analysis 69

111 Guatemala Crude Oil Pipeline Details- Route, Operator, Owners, Length, Diameter,
Capacity, 2015 69

112 Guatemala Gas Pipeline Details- Route, Operator, Owners, Length, Diameter, Capacity
69

113 Guatemala Planned Pipeline Details- 2016-2020 70

114 Guatemala Pipeline Market- Share in Total Network- 2015 70

115 Guatemala pipeline Industry- Market Monitor 71

1151 Honduras expects to join expanded Mexico-Guatemala gas pipeline 71

1152 Gas Pipeline from Mexico Just Starting Initial Stages 71

1153 PEMEX to work with Guatemala for gas pipeline construction 72

116 Guatemala Oil Industry- Market Monitor 73

1161 MEM rejects most moratorium and streamline mining licenses 73

1162 Low Prices Fuel Injected Million 939 Thousand Q7 National Economy 74

1163 Mem Approves Expansion Plans And Transport Generation 75

1164 FUEL PRICES 45% LOWER- December 2015 76

1165 Pilot Plan Presented Results Of The Use Of Ethanol In Gasoline 77

1166 New Energy Industrial Zone For 2017 79

1167 Mem Experts Known Natural Gas Projects Successful 80

1168 Output Reaches 36 million barrels in December 2015 80

1169 National Energy Sector Attracts Us $ 2163 Million 81

11610 Renewable Energy In Prioritize Cop21 82

11611 Electrification Is A Priority In Plan Integral Rural Development Policy- 2015 83

12 Competitor Operations and Business Profiles 85

121 Perenco 85

1211 Summary 85

1212 Business Operations 86

1213 SWOT Analysis 88

1214 Contact Information 89

122 Puma Energy 91

1221 Summary 91

1222 Business Operations 92

1223 SWOT Analysis 94

1224 Contact Information 96

123 Chevron Corporation 97

1231 Overview 97

1232 Global Operations 98

1233 Business Description 98

1234 SWOT Analysis 100

1235 Contact Information 101

1236 Financial Analysis 102

13 Appendix 103

131 Abbreviations 103

132 Sources and Methodology 103

133 Contact Information 104

134 Disclaimer 104

List of Tables
Table 1: Guatemala Oil and Gas Industry Overview 9
Table 2: Regional Oil and Gas Benchmarking- Overall Ranking 21
Table 3: Regional Oil and Gas Benchmarking - Demographic and Economic Index 21
Table 4: Regional Oil and Gas Benchmarking - Supply Index 22
Table 5: Regional Oil and Gas Benchmarking- Demand Index 22
Table 6: Regional Oil and Gas Benchmarking- Infrastructure Index 23
Table 7: Guatemala Crude Oil Production Outlook, Kb/d, 2005-2025 24
Table 8: Guatemala Light Diesel Production Outlook, Kb/d, 2005-2025 26
Table 9: Guatemala Vacuum Gas Oil Production Outlook, Kb/d, 2005-2025 28
Table 10: Guatemala Crude Oil Demand Outlook, Kb/d, 2005-2025 30
Table 11: Guatemala Gasoline Demand Outlook, Kb/d, 2005-2025 32
Table 12: Guatemala Diesel Demand Outlook, Kb/d, 2005-2025 34
Table 13: Guatemala Bunkering Fuel Oil Demand Outlook, Kb/d, 2005-2025 36
Table 14: Guatemala LPG Demand Outlook, Kb/d, 2005-2025 38
Table 15: Guatemala Planned Pipeline details 40
Table 16: Guatemala Upcoming Refinery Details, 2016- 2020 41
Table 17: Guatemala GDP Forecast, 2000- 2025 44
Table 18: Guatemala Population Forecast, 2000- 2025 45
Table 19: Guatemala Proven Oil Reserves, million barrels, 2000-2015 50
Table 20: Guatemala- Contracts, Fields and Operators Details 51
Table 21: Guatemala Exploration Assigned Blocks Details, 2013-2015 55
Table 22: Guatemala Operational Refinery Details, 2015 58
Table 23: Guatemala Upcoming Refinery Details, 2016- 2020 59
Table 24: Guatemala Historic and Projected Refining Capacity, kb/d, 2005- 2020 59
Table 25: Guatemala CDU Capacity by Refinery, Kb/d, 2000- 2020 59
Table 26: Guatemala Products Production Mix, 2015 60
Table 27: Guatemala Products Consumption Mix, 2015 60
Table 28: Guatemala Refining Capacity by Company, kb/d, 2000- 2020 61
Table 29: Guatemala Total Storage Capacity Forecast, 2005-2020 64
Table 30: Storage Terminals in Turkey - Location, Start up, Operator, Products Details 65
Table 31: Turkey Storage Capacity Forecast by Terminal, Thousand m3, 2005-2020 66
Table 32: MPPE Fuel Storage Terminals Details, 2015 67
Table 33: Guatemala Crude Oil Pipeline Details, 2015 69
Table 34: Guatemala Planned Pipeline details 70
Table 35: Guatemala Pipeline Network Length by Company, 2015 70
Table 36: Perenco- Top Level Information 85
Table 37: Puma Energy- Top Level Information 92
Table 38: Chevron Corporation- Top Level Information 97
Table 39: Chevron Corporation- Geographical Presence 98
Table 40: Chevron Corporation- Financial Overview 2013- 2014 102

List of Figures
Figure 1: Guatemala, Petroleum Products Import Volumes and Associated Import Bills, 2010-
2015 10
Figure 2: Guatemala, Petroleum Products Production, Thousand barrels, 2010- 2015 12
Figure 3: Guatemala Primary Energy Consumption Forecast, Mboe, 2005- 2025 13
Figure 4: Guatemala Primary Energy Mix by Fuel, 2015 14
Figure 5: Role of Xan Field Production in Guatemala Production, 2010-2015 16
Figure 6: Guatemala Fuel Import to Consumption Ratio by Product, 2015 17
Figure 7: Guatemala Low Sulphur Diesel Imports, Thousand barrels, 2010- 2015 18
Figure 8: Guatemala Crude Oil Production Outlook, Kb/d, 2005- 2025 25
Figure 9: Guatemala Light Diesel Production Outlook, Kb/d, 2005- 2025 27
Figure 10: Guatemala Vacuum Gas Oil Production Outlook, Kb/d, 2005- 2025 29
Figure 11: Guatemala Crude Oil Demand Outlook, Kb/d, 2005-2025 31
Figure 12: Guatemala Gasoline Demand Outlook, Kb/d, 2005- 2025 33
Figure 13: Guatemala Diesel Demand Outlook, Kb/d, 2005- 2025 35
Figure 14: Guatemala Bunkering Fuel Oil Demand Outlook, Kb/d, 2005- 2025 37
Figure 15: Guatemala LPG Demand Outlook, Kb/d, 2005- 2025 39
Figure 16: Guatemala Map and Geographic Boundaries 43
Figure 17: Guatemala GDP Forecast, 2000- 2025 44
Figure 18: Guatemala Population Growth Forecast, 2000- 2025 45
Figure 19: Pipeline Industry - Market Structure, 2015 47
Figure 20: Refining Industry- Market Share, 2015 48
Figure 21: Oil Storage Industry- Market Structure, 2015 49
Figure 22: Guatemala Crude Oil Reserves, million barrels, 2000-2015 51
Figure 23: Guatemala, Contract 2-85 Production details, Kb/d, 2005-2015 52
Figure 24: Guatemala, Contract 2-2009 Production details, Kb/d, 2005-2015 53
Figure 25: Guatemala, Contract 1-91 Production details, 2005-2015 53
Figure 26: Guatemala, Contract 1-2005 Production details, 2005-2015 54
Figure 27: Perenco Crude Production Outlook, 1997- 2015 87
Figure 28: OGAnalysis- Research Methodology 104