Latin America hydrocarbons roundup

Pacific Exploration & Production, which has assets in Belize, Brazil, Colombia, Guatemala, Guyana and Peru, reported that its board will negotiate a consensual restructuring transaction with The Catalyst Capital Group and creditors.

In an update, Toronto-based Pacific said "there can be no assurance that the parties will reach an agreement with respect to such a restructuring or as to the terms of any restructuring. The company's operations continue as normal and without disruption."

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Uruguay's Gas Sayago released reference terms for an open season tender for access to regasification capacity at the GNL del Plata offshore LNG import terminal.

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Peru's hydrocarbons licensing authority Perupetro awarded Arthur D Little a 135-day contract to carry out an E&P competitiveness study and propose strategies to attract investment. The other bidders were Gaffney, Cline & Associates, IHS Global and Wood Mackenzie.

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The energy, mines and hydrocarbons committee of Paraguay's lower house held a public hearing to debate a bill that would create a mines and energy ministry.

The majority of event participants were in favor of the initiative, although some questioned the budget impact. Deputy energy minister Mauricio Bejarano, who supports the move, said the public works and communications ministry's energy department has been tasked with carrying out sector policy for the next two years, according to a house release.