Burlington Signs E&P Contracts for Blocks 123, 124

Peru's hydrocarbons promotions agency Perupetro has signed two E&P contracts with the Peruvian subsidiary of US oil company Burlington Resources for blocks 123 and 124 in Loreto department's Maranon basin, Perupetro said in a statement.

Burlington will have seven years to explore the blocks with a possible three-year extension.

The company must drill three exploratory wells during the exploration phase and, if successful, could begin 30-year oil production or 40-year natural gas production.

Block 123 has a minimum US$55.5mn investment program, while block 124 requires at least US$53mn.

The new concessions bring the number of contracts signed by Perupetro in 2006 to 12.

Burlington already holds E&P contracts for blocks 57 and 39 and is operator of block 104.

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
Paralegal - Legal Administrative Assistant
Expertise: Legal|Secretarial or Administrative
Location: Dallas, TX
 
Associate Project Manager
Expertise: Project Engineer|Project Management
Location: Kennesaw, GA
 
Senior Project Manager
Expertise: Project Engineer|Project Management
Location: Atlanta, GA
 
search for more jobs

Brent Crude Oil : $56.58/BBL 1.32%
Light Crude Oil : $54.45/BBL 1.60%
Natural Gas : $2.62/MMBtu 1.15%
Updated in last 24 hours