Development of block 67 to produce 100,000b/d of heavy crude will require investment of US$1.6bn, government newspaper El Peruano reported.
Perupetro now will review the plan - if approved - will have to be followed up by an EIS, agency promotion manager Ronald Egusquiza said.
Once the EIS is approved and an agreement signed with local communities, work could begin this year and take four years with the aim of starting production in 2010 or 2011, Egusquiza said.
Block 67 is in the Maranon basin in Loreto department.
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