Perupetro to Sign 3 Exploration Contracts July 14

Peru's hydrocarbons promotions agency Perupetro will sign three exploration contracts on July 14 with US oil company Barrett Resources, local firm Petro-Tech Peruana and Ireland's Pan Andean Resources (LSX: PRE), a Perupetro spokesperson told BNamericas, confirming press reports.

The agency will sign a contract with Barrett Resources for the exploration of block 121 in Loreto department's Maranon basin, according to local press.

Barrett will invest some US$45mn in the seven-year exploration phase of the block, including 2-D seismic studies and the drilling of exploratory wells, BNamericas previously reported.

Also on July 14, Perupetro will sign a contract with Petro-Tech Peruana for exploration of block Z-36 on Peru's northern coast. The third contract that day will be penned with Pan Andean Resources for exploration of block 114 in the Ucayali basin.

Information regarding the second and third contracts was not immediately available.

Perupetro also announced it is evaluating requests from other companies for six oil exploration contracts, local press reported.

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