PeruPetro to Hold 2 Bid Rounds This Year

Peru's hydrocarbons promotion agency PeruPetro will hold two bidding rounds this year, the agency's general manager Jose Chavez told the Latin Upstream conference in Rio de Janeiro.

PeruPetro normally awards blocks on a first-come first-served basis, but if more than two companies express interest in the same acreage, a bid round is held.

Chavez did not say who the interested parties are, but said PeruPetro will open closed-envelope bids April 17 for a block in the Santiago basin and block B-04 in the Maranon basins (considered one lot). Bids for Talara basin blocks 23 and 24 will be opened on June 5.

PeruPetro will announce the winner of the first bid round on April 28 and the winner of the second on June 17.

Peru offers a range of exploration possibilities, with two basins unexplored, four underexplored, no deepwater exploration at all and deep formations around the Camisea project in the south of the country and in the jungles of the north, Chavez said.

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