InterOil to Drill at least 20 Wells on Peru's Block 3 and 4 in 2007

Oslo-based InterOil Exploration & Production plans to drill at least 20 wells on blocks 3 and 4 in northern Peru's Talara province, company COO Tom Wolden told BNamericas in an email.

"In addition, we will continue with our geological and geophysical studies to optimize the exploration potential in the area and improve production," he said.

The company also is working to drill nine wells by January 2007 in addition to the one where work is underway.

The first well, which contained a 75m net oil column in sandstones, marked the first drilling done at the site since April.

As a result of this year's drilling, production at Talara has increased about 35% to some 2,300b/d from 1,700b/d registered before 2006 drilling began, Wolden said.

The company also has operations in Colombia with production of some 1,100b/d.

"InterOil is selling the oil and has no plans to be involved in the downstream part of the business," Wolden said.

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