President Okays Block 126 Contract Signing

Peru's President Alan García has authorized state hydrocarbons promotion agency Perupetro and Canadian oil and gas companies True Energy and North American Vanadium to sign the E&P contract for block 126, Peru's official gazette reported.

Perupetro's board in April this year approved the contract for the block that spans 1.56Mha in the Ucayali basin.

The work commitment during the first 12 months of the contract entails reprocessing and interpreting 1,000km of 2D seismic lines and an integral geological study, according to Perupetro's website.

Three 24-month subsequent periods involve drilling appraisal and/or wildcat wells.

Neither Perupetro nor the Canadian companies immediately responded to a BNamericas request for additional information such as when contract signing was expected or how much would be invested in the exploration phase.

Visit BNamericas to access our real-time news reports, 10-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
SharePoint Project Manager
Expertise: IT - Programming & Database|Project Management
Location: Houston, TX
 
Commercial Director - Terminals
Expertise: Business Development
Location: South Carolina, 
 
Asset Integrity Manager
Expertise: Asset Management|Project Management|QA / QC / Inspection
Location: Pasadena
 
search for more jobs

Brent Crude Oil : $54.46/BBL 0.96%
Light Crude Oil : $51.68/BBL 1.21%
Natural Gas : $3.44/MMBtu 1.99%
Updated in last 24 hours