Perupetro to Sign Three Exploration Contracts

Peru's hydrocarbons promotions agency Perupetro reported it will sign three exploration contracts July 14 with Irish firm Pan Andean Resources (LSX: PRE), US company Barrett Resources and local group Petro-Tech Peruana.

Pan Andean's contract covers block 114 (770,728ha) in the Ucayali basin that spans Ucayali and Huanaco departments. Investment is estimated at US$23.5mn, Perupetro said in a statement.

Barret will explore block 121 (351,933ha) in Loreto department's Maranon basin, with investment pegged at US$45.5mn.

Petro-Tech Peruana's contract is for block Z-36 (999,995ha) that covers Ancash and Lima departments, which will require US$20mn.

The contracts' exploration phase will run seven years, with a possible three-year extension. The contracts' maximum length is 30 years for oil and 40 for natural gas.

Visit BNamericas to access our real-time news reports, 7-year archive, Fact File company database, and latest research reports. Click here for a Free two week trial to our Latin America Oil & Gas information service.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Business Development Analyst
Expertise: Business Analyst|Business Development
Location: Chesapeake, VA
 
Attorney I
Expertise: Contracts Administration|Legal
Location: Houston, 
 
Project Engineer/Project Manager
Expertise: Project Management
Location: Baton Rouge, 
 
search for more jobs

Brent Crude Oil : $55.49/BBL 2.45%
Light Crude Oil : $52.42/BBL 2.04%
Natural Gas : $3.2/MMBtu 5.04%
Updated in last 24 hours