To boost investment, employment, and expertise in the oil industry, the Salvadoran government is forging partnerships with Qatari companies interested in a significant oil exploration project. This initiative also involves conducting geological and geophysical studies of the country’s subsurface.
Daniel Álvarez, the Head of the Directorate General of Energy, Hydrocarbons, and Mines (DGEHM), revealed that the project is underway, focusing on gathering and analyzing information to identify potential oil and natural gas resources. Álvarez emphasized that substantial progress has been made over the past four years, with ongoing discussions with international companies expressing interest in the initiative.
«We have been working on this for four years. We planned and analyzed to see if it was worthwhile… There has been interest from several companies from various countries, such as Qatar, with whom we have discussed not only the oil project but also natural gas,» explained Álvarez during a televised interview.
Significantly, there are indications that El Salvador may have oil reserves. Álvarez stated, «We understand that there is a presence of the resource in Nicaragua, Guatemala, and Mexico, and we are not exempt from having resources; we just need to know where, how much, and what quality it is.»
«We have indications that, from the Andean Basin in Nicaragua, there is oil that enters the coasts of El Salvador. So, there are indications that in the coastal area of the country, this resource may exist, and that is where the study will be focused,» he reiterated.
To implement the project, the government is in the process of training its personnel, followed by the hiring of geologists and other specialists. The goal is for this project to attract more investment and job creation in the country.
Additionally, the Director of DGEHM affirmed the government’s commitment to new renewable energy projects, such as the construction of the second state-owned photovoltaic plant. While details are still in progress, it was revealed that the plant will be situated in the lands of the 15 de Septiembre Hydroelectric Plant and is expected to generate approximately 20 megawatts.
«We are working on new projects. We have a solar park in the 15 de Septiembre Hydroelectric Plant; we are in the preparations and will start at the beginning of next year. It is a plant that will generate around another 20 megawatts,» he confirmed.
With the implementation of these projects, the government aims to achieve 100% renewable energy generation in the country.