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.
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