The TEAs correspond to the Maranon basin's XXVI, XXVII, XXVIII, XXIX, XXX and XXXI blocks and have a two-year period.
The consortium will identify zones with the most hydrocarbons-bearing potential in order to determine if it will enter into E&P license contracts.
The TEAs will require a US$980,000mn in investment, to be financed equally by Petrobras and Petroperu.
Petrobras produces 15,000b/d oil and gas in Block X in northwest Peru and also has six exploration concessions covering 57,500 sq km.
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